Azerbaijan's TOP-5 trade partners

BAKU, Azerbaijan, Jan.6

By Fidan Babayeva – Trend:

The volume of Azerbaijan’s trade turnover with its five major partners from January through November 2020 made up over $13.2 billion, or 58.2 percent of the country’s total trade turnover, Trend reports referring to a report of the Azerbaijani State Customs Committee.

Italy has remained the biggest trade partner of Azerbaijan (trade between them amounted to $4.4 billion with a specific share of 16.62 percent). It is followed by Turkey, trade with which was $3.9 billion, and the specific share made up 17.19 percent.

Russia ranked third; trade with this country reached $2.4 billion (10.63 percent).

The trade with China made up $1.7 billion (7.49 percent) and with Germany - $745.7 million (3.28 percent).

Comparative table of TOP-5 trade partners of Azerbaijan:

During the reporting period, Azerbaijan bought most of the products worth more than $1.7 billion (share of the total import – 18.31 percent) from Russia. It is followed by Turkey - $1.4 billion (14.49 percent), China - $1.2 billion (13.15 percent), the US - $592.8 million (6.12 percent) and Germany - $513.4 million (5.3 percent).

Meanwhile, Italy was again the main importer of Azerbaijani products. Some $4 billion (31.38 percent) of Azerbaijan’s total export accounted for Italy. It is followed by Turkey – $2.5 billion (19.19 percent), Russia - $644.6 million (4.94 percent), Greece – $467.5 million (3.58 percent), and Croatia – nearly $448.8 million (3.44 percent).

Azerbaijan’s total foreign trade turnover in the first 11 months of 2020 made up over $22.7 billion, dropping by 25.8 percent compared to the same period of 2019.

The foreign trade balance of Azerbaijan decreased by 22.9 percent year-on-year, nevertheless remaining positive and reaching $5.9 billion.

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