Baku, Azerbaijan, Nov. 16
By Taleh Mursagulov – Trend:
The trade turnover of Azerbaijan with the five main trade partners of the country reached $11.71 billion in January-October 2018, which accounted for 46.8 percent of the total trade turnover of the country, according to the report of the Azerbaijani State Customs Committee.
During the reporting period, Italy became the biggest trading partner of Azerbaijan with a trade turnover of $4.7 billion and a specific weight of 18.64 percent. It is followed by Turkey – $2.79 billion (11.06 percent), Russia – $1.99 billion (7.9 percent), Germany – $1.2 billion (4.8 percent) and Israel – $1.02 billion (4.04 percent).
Comparative table of TOP 5 trading partners of Azerbaijan:
|
Countries |
Jan.-Oct. 2018 |
Jan.-Oct. 2017 |
Difference |
||
|
Trade turnover (thousand $) |
Specific weight (percent) |
Trade turnover (thousand $) |
Specific weight (percent) |
||
|
Italy |
4,700,933.51 |
18.64 |
2,328,095.86 |
14.54 |
|
|
Turkey |
2,789,690.46 |
11.06 |
2,165,223.84 |
13.52 |
|
|
Russia |
1,992,089.51 |
7.9 |
1,656,547.94 |
10.35 |
|
|
Germany |
1,209,545.64 |
4.8 |
668,455.29 |
4.17 |
|
|
Israel |
1,020,149.4 |
4.04 |
473,072.66 |
2.95 |
|
According to the results of the reporting period, Italy remained the main consumer of Azerbaijani products, as it accounts for $4.43 billion (27.72 percent) of all exports. It is followed by Turkey - $1.48 billion (9.27 percent), Israel – $1 billion (6.27 percent), India – $749 million (4.69 percent) and the Czech Republic – $718 million (4.5 percent). The share of these countries in Azerbaijan's total exports is 52.45 percent.
During the reporting period, Azerbaijan purchased most of products in Russia – nearly $1.48 billion (16.02 percent). It is followed by: Turkey - $1.3 billion (14.15 percent), China – $949 million (10.25 percent), Germany – $531 million (5.74 percent) and the US – $449 million (4.85 percent). The share of these countries in Azerbaijan's total imports is 51.01 percent.
In total, in the nine months of 2018, Azerbaijan's foreign trade operations increased by almost 57.53 percent compared to the same period in 2017, amounting to $25.22 billion. The positive balance in the reporting period was more than $6 billion, which is more than three times exceeds the figure of the same period of last year ($2.1 billion).
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