Ranking of trade partners: Azerbaijan increases export to Portugal

Baku, Azerbaijan, Feb. 18

By Azad Hasanli – Trend:

The trade turnover of Azerbaijan with the five main trade partners of the country reached $1.05 billion in January 2019, which accounted for 45.95 percent of the total trade turnover of the country, Trend reports with reference to the Azerbaijani State Customs Committee.

During the reporting period, Italy became the biggest trading partner of Azerbaijan with a trade turnover of $476.5 million and a specific weight of 20.7 percent. It is followed by Turkey – $220 million (9.56 percent), Russia – nearly $169.5 million (7.36 percent), Portugal – $101.5 million (4.41 percent) and China – $90.25 million (3.92 percent).

Comparative table of TOP 5 trading partners of Azerbaijan:

During the reporting period, Azerbaijan purchased most of products in Russia – $120.6 million (11.8 percent). It is followed by: Turkey - $92.31 million (9.03 percent), China – $87.48 million (8.55 percent), Australia – $80.47 million (7.87 percent) and Iran – $78.34 million (7.66 percent). The share of these countries in Azerbaijan's total imports is almost 44.91 percent.

According to the results of the reporting period, Italy remained the main consumer of Azerbaijani products, as it accounts for $444.44 million (34.73 percent) of all exports. It is followed by Turkey - $127.7 million (9.98 percent), Portugal – $100.9 million (7.89 percent), Israel - $76.4 million (5.97 percent) and the Czech Republic – $70.68 million (5.52 percent). The share of these countries in Azerbaijan's total exports is 64.09 percent.

In total, in January 2019, Azerbaijan's foreign trade operations increased by 35.3 percent compared to the same period in 2018, amounting to $2.3 billion.

The positive balance in the reporting period was $256.9 million, which is by 26.6 percent less than the figure of the same period of last year.