Azerbaijan’s TOP 5 trade partners in 1Q2020 named

BAKU, Azerbaijan, Apr. 16

By Eldar Janashvili - Trend:

Azerbaijan’s trade turnover with its five main trade partners amounted to over $3 billion from January through March 2020 or 58 percent of its total trade turnover, Trend reports referring to the country’s State Customs Committee.

Italy retained the status of Azerbaijan’s biggest trading partner with a turnover of $1.9 billion and a share of 28.5 percent. It is followed by Turkey - $740.4 million (10.8 percent), Russia - $573.9 million (8.4 percent), China - $423.8 million (6.2 percent) and the US – $287.9 million (4.2 percent).

Comparative table of Azerbaijan’s TOP 5 trade partners:

During the reporting period, Azerbaijan bought most of the products worth $433.7 million (share of the total import – 16.5 percent) from Russia. It is followed by Turkey - $389.8 million (14.8 percent), China - $353 million (13.4 percent), the US - $281.9 million (10.7 percent) and Germany - $137.7 million (5.2 percent).

The share of these countries in Azerbaijan’s total imports was 60.5 percent.

Italy was again the main importer of Azerbaijani products in the reporting period. Some $1.83 billion (43.5 percent) of Azerbaijan’s total export accounted for Italy. It is followed by Turkey – $350.6 million (8.3 percent), Israel - $253.8 million (6 percent), Greece – about $188.1 million (4.5 percent) and India - $169.6 million (4 percent).

The share of these countries in Azerbaijan’s total export was about 66.3 percent.

In general, Azerbaijan’s foreign trade operations decreased by 10.2 percent and amounted to $6.8 billion in the 1st quarter of 2020, compared to the same period of 2019.

During the reporting period the positive balance amounted to over $1.5 billion, which is 16.3 percent more compared to the same period of last year ($1.3 billion).

($1 = 1.7 manat on Apr.16)

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