BAKU, Azerbaijan, April 4
By Fidan Babayeva – Trend:
Azerbaijan's trade turnover with five main trading partners amounted to $2.5 billion or 57.5 percent of the country's total trade turnover from January through February 2021, Trend reports citing a report of the country’s State Customs Committee.
Italy has retained the status of Azerbaijan's biggest trade partner with a trade turnover of $1.09 billion, with a specific share of 24.94 percent. It is followed by Turkey - $541.1 million (a share - 12.3 percent), Russia - $332.5 million (7.5 percent), China - $316.9 million (7.2 percent) and India - $241.4 million (5.5 percent).
Comparative table of TOP-5 trade partners of Azerbaijan:
|
From Jan. through Feb. 2021 |
From Jan. through Feb. 2020 |
||||
|
countries |
Trade turnover value |
Specific share (%) |
Countries |
Trade turnover value |
Specific share (%) |
|
Italy |
$1.09 billion |
24.94 |
Italy |
$1.6 billion |
31.29 |
|
Turkey |
$541.1 million |
12.3 |
Turkey |
$547.5 million |
10.87 |
|
Russia |
$332.6 million |
7.56 |
Russia |
$347.1 million |
6.89 |
|
China |
$316.9 million |
7.2 |
China |
$329.05 million |
6.53 |
|
India |
$241.4 million |
5.49 |
US |
$252.6 million |
5.02 |
Italy again became the main consumer of Azerbaijani products during the reporting period, purchasing the Azerbaijani goods in the amount of $1.04 billion (37.55 percent of the entire export volume), followed by Turkey - $302.7 million (10.86 percent), India - $218.5 million (7.8 percent), Georgia - $216.6 million (7.77 percent) and Spain - about $176.7 million (6.34 percent).
During the reporting period, Azerbaijan purchased most of its products from Russia - for $243.4 million (the share of the entire import volume is 15.1 percent). It is followed by Turkey - $238.8 million (14.79 percent). China - $203.8 million (12.64 percent) Germany - $142.5 million (8.8 percent) and the US - $83.9 million (5.2 percent).
Azerbaijan's foreign trade turnover from January through February 2021 amounted to $4.4 billion, which is 12.6 percent less than in the same period of 2020.
In the structure of foreign trade turnover, export accounted for $2.8 billion, which shows a decrease in annual terms by 14.2 percent.
The share of export for the year decreased by 1.16 percentage points - to 63.4 percent of the total foreign trade turnover.
Import to Azerbaijan from January through February 2021 amounted to over $1.6 billion, having decreased by 9.8 percent compared to the same period of 2020.
The share of imports in the total trade turnover increased by 1.16 percentage points - up to 36.64 percent of the total volume.
(1 USD = 1.7 AZN on Apr.2)
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