Foreign trade of Azerbaijan (January-May 2011)

In January-May 2011, Azerbaijan's foreign trade turnover with 132 countries comprised $14.073 billion or an increase of 32.98 percent compared to January-May 2010. The amount of export increased by 29.43% as compared to last year and comprised $10.583bln, while import increased 45.06%, totaling $3.49bln. Azerbaijan exported 1,345 types of goods and imported 5,053. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $7.093bln.

Like previous years, the main item of Azerbaijan's export was oil and oil products.

Exports of crude oil and petroleum products, natural gas and electricity in January-May 2011

Source: State Statistics Committee

Most of the exports of Azerbaijan or 85.91 percent in the five months accounted for the export of crude oil. In January-May was exported crude oil worth $9.091 billion, exceeding the figure for the same period last year by 30.27 percent.

During the reporting period, oil products were exported in amount of $575.1 million (an increase of the year at 9.7 percent), accounting for 5.43 percent of total exports.

Main products exported from Azerbaijan

Source: State Customs Committee

In this period the highest amount of export fell on Italy. Thus, during the reported period Azerbaijan exported commodities to Italy totaling $3.824bln which makes up 36.13% of total exports. Mainly oil and oil products are exported to this country. Italy is followed by France ($1.628bln) and USA ($0.790bln). 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 largest volume of export in January-May 2011 accounted for the Far East. In January-May 2011, this indicator totaled $ 9.146.2 b illion. Azerbaijan exported goods amounting to $ 1.436.8 bil lion (13.15% out of the total volume of the country's exports) to the CIS countries. Azerbaijan exported to CIS fuel, oil products, bitumen minerals, fruits, animal and vegetable oil and other.

The traditional domination of three countries in import seems to be as: Russia ($ 647.5 mln), Turkey ($ 475.1 mln) and USA ($298.7mln).

Most of Azerbaijan's imports or 31.38 percent in the first three months accounted for the imports of machines, equipment, electric vehicles and their spare parts. In January-May, the machinery and equipment import amounted to $1.095.0 billion, exceeding the figure for in the same period of the last year by 79.4 percent.

Main products imported to Azerbaijan

According to the State Customs Committee, Azerbaijan's foreign trade turnover with CIS countries in January-May amounted to $2.488.6 billion. Exports to CIS countries for the period totaled $1.436.8 billion (13.58 percent of total exports) and imports - $1.051.8 billion (30.14 percent of total imports). Thus, the black ink of import-export operations with CIS countries amounted to $385.0mln.

The share of public sector in exports made up $ 10.11 bln (95.5%), private sector held $ 0.44 bln (4.2%). The share of export operations by physical entities comprised $ 33.02 mln (0.3%).

In the import operations, 36 percent or $ 1.257 billion accounted for the public sector, 59.2 percent or $2.066 billion - private and 4.8 percent or $ 166.4 million - the share of individuals.

In total, 4,794 legal entities ( 2,737 ) and physical entities ( 2,057 ) participated in the foreign trade operations.