Ranking of trading partners: Azerbaijan doubles trade with Italy

Baku, Azerbaijan, April 18

By Sara Israfilbayova – Trend:

In January-March 2019, the trade turnover of Azerbaijan with its 5 main trading partners amounted to $3.8 billion making up 50.45 percent of the country's total trade, Trend reports referring to the report issued by the State Customs Committee (SCC) of Azerbaijan.

Italy retained the status of the largest trade partner of Azerbaijan with a trade turnover of $1.5 billion and a share of 19.4 percent. The country is followed by Turkey, with its trade turnover with Azerbaijan making up $812.3 million (a share of 10.7 percent), Russia - $562.7 million (7.4 percent), China - $544.5 million (7.15 percent) and Switzerland - $445.7 million dollars (5.85 percent).

Comparative table of top 5 trade partners of Azerbaijan:

During the reporting period, most products amounted to $437.7 million, which makes up 14 percent of the total of the import, have been purchased from Russia. The country is followed by Switzerland at $412.1 million (13.14 percent), Turkey at $307.4 million (9.8 percent), China at $ 271.7 million (8.7 percent) and Iran at 219.6 million dollars (7 percent). The share of these countries in total imports of Azerbaijan is 52.6 percent.

Italy remained the main consumer of Azerbaijani products, purchased in the amount of $1.4 billion comprising 31.2 percent of the total exports. It is followed by Turkey - $504.9 million (11.26 percent), Germany - $287.8 million (6.42 percent), China - $272.8 million (6.1 percent), and Spain - $259.5 million (5.8 percent). The share of these countries in total exports of Azerbaijan makes up 60.7 percent.

Overall, foreign trade operations of Azerbaijan increased by almost 27.2 percent and reached $7.6 billion over the reporting period. The surplus for this period amounted to $1.3 billion, which is 13.7 percent more than the same period last year ($1.2 billion).

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