BAKU, Azerbaijan, Nov. 18
By Zeyni Jafarov – Trend:
The volume of Azerbaijan’s trade turnover with its five major partners made up $12.3 billion from January through October 2020, or 58.4 percent of the country’s total trade turnover, Trend reports on Nov. 18 referring to a report of the Azerbaijani State Customs Committee.
Italy has remained the biggest trade partner of Azerbaijan (trade between them amounted to $4.2 billion with a specific share of 20.1 percent). It is followed by Turkey, trade with which was almost $3.6 billion, and the specific share made up 17.1 percent.
Russia ranked third; trade with this country reached $2.2 billion (10.45 percent).
The trade with China made up $1.6 billion (7.46 percent) and with Germany - $697.8 million (3.32 percent).
Comparative table of TOP-5 trade partners of Azerbaijan:
|
From Jan. through Oct. 2020 |
From Jan. through Oct. 2019 |
||||
|
countries |
Trade turnover ($) |
Specific share (in percent) |
countries |
Trade turnover ($) |
Specific share (in percent) |
|
Italy |
$4.2 billion |
20.1 |
Italy |
$5.2 billion |
18.54 |
|
Turkey |
$3.6 billion |
17.1 |
Turkey |
$3.6 billion |
12.88 |
|
Russia |
$2.2 billion |
10.45 |
Russia |
$2.4 billion |
8.63 |
|
China |
$1.6 billion |
7.46 |
China |
$1.8 billion |
6.33 |
|
Germany |
$697.8 million |
3.32 |
Germany |
$1.4 billion |
4.94 |
During the reporting period, Azerbaijan bought most of the products worth $1.6 billion (share of the total import – 18.58 percent) from Russia. It is followed by Turkey - $1.3 billion (14.51 percent), China - $1.1 billion (13.05 percent), the US - $567.6 million (6.47 percent) and Germany - $468.2 million (5.34 percent).
Meanwhile, Italy was again the main importer of Azerbaijani products. Some $3.9 billion (31.72 percent) of Azerbaijan’s total export accounted for Italy. It is followed by Turkey – $2.3 billion (18.96 percent), Russia - $565.5 million (4.62 percent), Croatia – $448.8 million (3.67 percent), and Greece – over $432 million (3.54 percent).
Azerbaijan’s total foreign trade turnover from January through October 2020 made up over $21 billion, dropping by 25.7 percent compared to the same period of 2019.
The foreign trade balance of Azerbaijan decreased by 35.4 percent year-on-year, nevertheless remaining positive and reaching $3.5 billion.
(1 USD = 1.7 AZN on Nov. 18)
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