Foreign trade of Azerbaijan (January-May 2010)

In January-May 2010, Azerbaijan's foreign trade turnover with 126 countries comprised $10579.0 million. The amount of export increased by 78.02% as compared to last year and comprised $8176.9mln, while import declined 4.43%, totaling $2402.1mln. Azerbaijan exported 1,473 types of goods and imported 4,904. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $5774.9mln. 

In January-May 2010, the highest level of export fell on May - $2047.5mln and the lowest on March - $1292.6mln. As to import operations the highest level of import was observed in May ($637.9mln) and the lowest in February ($345.3mln).

In January to May 2010, increase was recorded in all types of exported products of the country, except vegetable, fruits and aluminum. However, the decrease in exports of aluminum is not associated with a reduction in the production of aluminum in the country, but vice-versa, the production of this product has grown and will grow each year thanks to a loan from the Central Bank of Azerbaijan for development of aluminum industry. Aluminium has a high export potential and reduction resulted from the fact that during the global crisis, the purchasing capacity in importing countries has decreased. And the decrease in the export of vegetables and fruits is seasonal.

Azerbaijan continues to restore the position of producer and exporter of cotton. Cotton exports during the year increased by 30.68 percent compared with last year. The increase is explained through high prices per ton. In 2009, Azerbaijan exported cotton in average price of $993.48 per ton, but in November the price rose to $1121.1.

Structure of export in January-May 2010

Product

Percentage in export (%)

As compared to 2010, in %

Crude oil

85,35

193,33

Oil products

6,41

86,78

Aluminum

0,02

12,14

Fruits and vegetables

0,32

83,90

Ferrous metal and wares of them

0,58

193,66

Chemical products 

0,25

289,76

Cotton

0,03

130,68

Alcohol and alcohol free drinks

0,08

162,24

Tobacco and tobacco products

0,03

120,39

Others

5,96

Source: State Statistics Committee

In this period the highest amount of export fell on Italy. Thus, in 2010 Azerbaijan exported commodities to Italy totaling $2650.5mln which makes up 32.41% of total exports. Mainly oil and oil products are exported to this country. Italy is followed by Israel ($789.5mln) and France ($692.0mln). 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 $7670.1mln (93.70%), private sector held $484.8mln (5.93%). The share of export operations by physical entities comprised $22.0mln (0.27%). 

In imports of goods in January-May 2010 the greatest growth was observed on consumer goods, timber, foodstuffs, furniture, and the lowest on machinery and equipment, vehicles and spare parts for them, pharmaceutical products.

Structure of import in January-May 2010

Product

Percentage in exports (%)

As compared to 2009, in%

Machine and equipment

25,38

77,11

Ferrous metal and wares of them

13,03

151,88

Foodstuffs

14,99

124,76

Consumer goods

0,76

117,79

Transport conveyances and spare parts to it

14,40

115,08

Furniture

0,76

128,51

Forest products

2,57

249,43

Pharmaceutical products

2,17

91,86

Other

25,94

Source: State Statistics Committee

The traditional domination of three countries in import seems to be as: Russia ($407.2mln), Turkey ($252.8mln) and China ($216.9 million).  

Some 27.89% of import operations, or $669.9mln fell on public sector, 67.00% or $1609.3mln - private sector, while 5.11% or $122.7mln - on physical entities.

In total, 4,629 legal entities (2,643) and physical entities (1,986) participated in the foreign trade operations.

In January-May 2010, Azerbaijan imported goods amounting to $763.4mln (31.78% out of the total volume of the country's import) from the CIS countries. CIS exported to Azerbaijan grains (12.49%), equipment and mechanical rigs (11.78%).  

Amount of the Azerbaijani goods exported to CIS countries totaled $821.6mln (10.05% out of the total volume of the country's export). Azerbaijan exported to CIS mineral fuel, oil products, bitumen minerals (51.90%), fruits (1.43%), animal and vegetable oil (9,31%) and other.

The red ink in import-export operations with CIS countries totaled $58.2mln.

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