In January 2010, Azerbaijan's foreign trade turnover with 99 countries comprised $1791.9 million. The amount of export increased by 105.63% as compared to last year and comprised $1428.1mln, while import declined 29.43%, totaling $363.8mln. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $1064.2mln.
In January 2010, exports of the country experienced significant growth in key export commodities except aluminum, which is not associated with a decrease in the production of aluminum in the country, but vice versa, the production of this product have grown and will grow each year thanks to the loans from Central Bank of Azerbaijan for the development of the aluminum industry. Aluminum has a high export potential, and the decrease was caused by the fact that during the crisis purchasing capacity in importing countries has declined.
However, the rate of export of chemical products having the same high export potential increased due to appropriate assistance from the state in form of privileges to re-establish the activities of the chemical industry. This year, the industry has demonstrated good results of production and exports of chemical products increased 3 times.
The largest share in the export accounts for crude oil (88.52 percent). In January 2010, Azerbaijan exported 2.265 million tons of crude oil totaling $1.264 billion and for whole 2009 the share of oil exports amounted to 81.57 percent while the volume of exports reduced 72.86 percent.
Structure of export in January 2010
|
Product |
Percentage in export (%) |
As compared to 2008, in % |
|
Crude oil |
88,52 |
225,93 |
|
Oil products |
5,99 |
111,97 |
|
Aluminum |
0,05 |
9,83 |
|
Fruits and vegetables |
0,53 |
105,99 |
|
Fat and vegetable oil |
1,31 |
198,59 |
|
Ferrous metal and wares of them |
0,31 |
168,18 |
|
Chemical products |
0,32 |
338,48 |
|
Cotton |
0,04 |
367044,0 |
|
Alcohol and alcohol free drinks |
0,13 |
744,85 |
|
Tobacco and tobacco products |
0,03 |
101,82 |
|
Others |
2,79 |
Source: State Statistics Committee
During this period the highest amount of export fell on Italy. Thus, in January 2010 Azerbaijan exported commodities to Italy totaling $611.9mln which makes up 42.85% of total exports. Mainly oil and oil products are exported to this country. Italy is followed by Indonesia ($138.4mln) and France ($120.3mln). Italy has maintained its leading position since 2008 excluding early three months. Turkey took a lead in January and U.S. in February and March 2008.
The share of public sector in exports made up $1368.6mln (95.84%), private sector held $53.5mln (3.74%). The share of export operations by physical entities comprised $6.1mln (0.42%).
In the import of goods in January 2010 the largest increase in imported products was recorded over forestry products. This increase can be explained through increased volume of construction work in January 2010 by 13.2 percent as compared to the same period in 2009. The forestry products are widely used in construction.
The reduction in the import was recorded with regards to transport facilities and spare parts for them. Reduction of import of cars to Azerbaijan during the reported period is connected with influence of global financial crisis when car sale reduced because of restriction of credits by the banks. In addition, the ban on importing cars not meeting ecological and operation standards caused the reduction in car import. According to the data provided by the State Customs Committee, in January 2010, Azerbaijan imported 3,187 cars, a decrease of 37.4%.
Structure of import in January 2010
|
Product |
Percentage in exports (%) |
As compared to 2008, in% |
|
Machine and equipment |
26,02 |
55,59 |
|
Ferrous metal and wares of them |
8,90 |
49,11 |
|
Foodstuffs |
17,27 |
122,12 |
|
Consumer goods |
0,66 |
83,30 |
|
Transport conveyances and spare parts to it |
14,29 |
60,78 |
|
Furniture |
1,30 |
131,05 |
|
Forest products |
3,81 |
358,21 |
|
Pharmaceutical products |
1,87 |
76,33 |
|
Other |
25,89 |
Source: State Statistics Committee
The traditional domination of three countries in import seems to be as: Russia ($74.7mln), Turkey ($40.1mln) and Germany with $31.5mln.
Some 33.09% of import operations, or $120.4mln fell on public sector, 60.61% or $220.5mln - private sector, while 6.30% or $22.9mln - on physical entities.
In total, 1,874 legal entities (1,331) and physical entities (543) participated in the foreign trade operations.
In January 2010, Azerbaijan imported goods amounting to $124.9mln (34.33% out of the total volume of the country's import) from the CIS countries. CIS exported to Azerbaijan grains (12.07%), land vehicles (7.20%), equipment and mechanical rigs (12.16%), forest products (7.89%).
mount of the Azerbaijani goods exported to CIS countries totaled $117.1mln (8.19% out of the total volume of the country's export). Azerbaijan exported to CIS mineral fuel, oil products, bitumen minerals (58.40%), vegetables, animal and vegetable oil (15.92%) and other.
The red ink in import-export operations with CIS countries totaled $7.9mln.