TOP-5 trade partners of Azerbaijan

BAKU, Azerbaijan, Sept. 21

By Fidan Babayeva –Trend:

The volume of Azerbaijan’s trade with its five major partners made up more than $9.8 billion from January through August 2020, or 59 percent of the country’s overall export, Trend reports on Sept.21 referring to a report of the State Customs Committee of Azerbaijan.

Italy has remained the largest trade partner of Azerbaijan (trade between them amounted to $3.3 billion with a specific share of 20.26 percent). It is followed by Turkey, trade with which was almost $2.9 billion, and the specific share made up 17.15 percent.

Russia ranked third; trade with this country exceeded $1.7 billion (10.34 percent).

The trade with China made up $1.3 billion (7.89 percent) and with Ukraine - $555.8 million (3.35 percent).

Comparative table of TOP-5 trade partners of Azerbaijan:

During the reporting period, Azerbaijan bought most of the products worth $1.2 billion (share of the total import – 18.67 percent) from Russia. It is followed by Turkey - $983.9 million (14.71 percent), China - $888.58 million (13.28 percent), the US - $495.6 million (7.41 percent) and Germany - $354.5 million (5.3 percent).

Meanwhile, Italy was again the main importer of Azerbaijani products. Some $3 billion (31.18 percent) of Azerbaijan’s total export accounted for Italy. It is followed by Turkey – $1.9 billion (19.38 percent), Russia - $463.3 million (4.93 percent), China – $419.4 million (4.25 percent) and India –$412.5 million (4.18 percent).

Azerbaijan’s total foreign trade turnover in the past eight months of 2020 made up $16.5 billion, dropping by 27.6 percent compared to the same month of 2019.

The foreign trade balance of Azerbaijan decreased by 22.9 percent year-on-year, nevertheless remaining positive and surpassing $3.1 billion.

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