...

Foreign trade of Azerbaijan (January-February 2014)

Analysis Materials 14 April 2014 15:02 (UTC +04:00)

The foreign trade turnover with 112 world countries amounted to 4.968 billion in January-February 2014, or 11.56 percent less than in January-February 2013. The volume of exports decreased by 9.69 percent and amounted to $3.78 billion compared to January-February 2013. The volume of import decreased by 17.01 percent and amounted to $1.19 billion. Azerbaijan exported 912 goods and imported 3,955 different goods. As of January-February 2014, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.6 billion.

As in previous periods, oil, gas and oil products were mainly exported from Azerbaijan in January-February 2014.

Main products exported from Azerbaijan

Name of the product

January-February 2014

Compared to January-February 2013, %

cost, thousand dollars

Share in export volume, %

Crude oil

3 268 705,05

86,51

92,37

Oil products

169 796,46

4,49

89,80

Natural gas

108 652,56

2,88

57,53

Fruits and vegetables

16 576,22

0,44

113,40

Oil and butter

46 766,49

1,24

98,54

Spirits and soft drink

3 049,02

0,08

64,95

Aluminum

12 931,16

0,34

95,68

Ferrous metals, tons

7 561,35

0,20

40,21

Raw cotton

1 821,57

0,05

37,49

Chemical products

8 701,63

0,23

88,38

Others

79 130,62

2,09

84,07

Source: Azerbaijani state customs committee

Most of Azerbaijan's exports as of January-February 2014 (86.51 percent) fell to the export of crude oil. The exports of crude oil decreased by 7.63 percent compared to January-February 2013. The export of oil products decreased by 10.2 percent during this period. Around 4.49 percent of total exports from the country fell to the oil products in January-February 2014.

Some 4,283,018 million tons of oil were transported via the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) pipeline, 713,803 tons - the Baku-Supsa pipeline, 209,452 tons - via the Baku-Novorossiysk pipeline and 156,628 tons were shipped by rail to Baku-Batumi in January-February.

As of January-February 2014, the share of gas accounted for 2.88 percent of the total volume of the country's export compared to 2.93 percent in 2013.

According to the gas meters, gas export from the country amounted to 5.36 billion cubic meters compared to 7.29 billion cubic meters during 2013. In February, the export amounted to 4.46 billion cubic meters compared to 930.924 million cubic meters in January.

Around 556.8 million cubic meters of gas worth of $108.65 million were formalized upon the cargo customs declarations in January-February compared to 3,035,062 million cubic meters of gas worth of 701.98 million in 2013.

Some 266.994 million cubic meters worth $47.22 million were registered in February compared to 289.801 million cubic meters worth $61.432 million in January.

As for the rest exported goods, Azerbaijan exported agricultural products in abundance in January-February 2014. Fruits and vegetables to the amount of $ 16.6 million were exported to other countries during the period or 13.4 percent more than in January-February 2013.

In this period, the highest amount of export fell on Italy. Thus, during this period Azerbaijan exported goods totaling $955.49 million to Italy which makes up 25.3 percent of a total export volume. Mainly oil and oil products are exported to this country. Indonesia ($499.2 million) and Germany ($440.1 million) hold leading positions. 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.

Turkey ranks first on largest import volume ($198.8 million) in January-February 2014. About 16.71 percent of the Azerbaijani imports fell to it. Russia ranks second - $168.2 million and Germany - third ($95.7 million).

Most of Azerbaijan's imports or 30.84 percent in the reporting period fell to the import of machinery, equipment, electrical equipment and spare parts. The machinery and equipment worth $367.01 million were imported in January-February 2014 or by 16.21 percent less than in January-February 2013.

Import of ferrous metals ranks second in terms of the volume of import to the country. The share of this product in the total volume of import to the country amounted to 10.54 percent in January-February. This volume totaled 125.37 million manat in nominal terms.

Many vehicles and parts worth $108.15 million (the share in the total import volume - 9.09 percent) were brought in the country.

The import of butter significantly increased in January-February (by 25.68 percent compared to January-February 2013) which is related to insufficient domestic production of butter.

Main products imported to Azerbaijan

Name of products

January-February 2014

Compared to January-February 2013, %

cost

(thousand dollars)

Share in import volume, %

Meat

1 609.96

0.14

49.77

Butter

2 950.08

0.25

125.68

Milk

1 217.72

0.10

79.10

Grain

51 542.47

4.33

100.76

Cars, mechanisms, electric goods, equipment

367 014.44

30.84

83.79

Vehicles and spare parts

108 151.41

9.09

93.53

Wood and wooden goods

19 537.75

1.64

42.93

Ferrous metals, tons

125 375.97

10.54

61.26

Furniture and its parts

10 896.66

0.92

122.33

Pharmaceutical goods

33 755.32

2.84

105.42

Source: Azerbaijani state customs committee

According to the State Customs Committee, Azerbaijan's foreign trade turnover with CIS countries in January-February 2014 amounted to $402.287 million or 8.09 percent of total volume of Azerbaijan's foreign trade turnover. Exports to the CIS countries for the period totaled $113.997 million (3.02 percent of the total export volume) by decreasing by 49.44 percent and imports - $288.290 million (24.23 percent) by decreasing by 23.06 percent. As a result, the country had a red ink in trading with them to the amount of $0.174 billion.

The non-EU and non-CIS countries (earlier the main partners of the country) formed Azerbaijan's foreign trade turnover ($4.968 billion) to the amount of 42.49 percent in January-February or $2.110.904 billion, while the EU countries - 49.42 percent ($2.455.198 billion).

In January-February 2014 Azerbaijan's exports to the EU countries amounted to $2.073.936 billion, or 54.89 percent of a total export volume ($3.778 billion) amid a 8.86 percent increase. Imports from EU ($381.261 million) dropped by 4.77 percent and amounted to 32.04 percent of a total import volume ($1.189 billion). As a result, the country had a black ink of trade balance with the EU at the level of $1.692 billion or 65.4 percent of the country's foreign trade surplus ($2.588 billion).

In January-February 2014, exports to non-EU and non-CIS countries decreased by 22.53 percent - up to $1.590.574 billion or 42.09 percent of a total export volume. Imports decreased by 21.02 percent and hit $520.330 million or 43.73 percent of all imports. As a result, the country received black ink worth $1.070 billion with these countries.

During this period, about 2,480 legal and physical entities were involved in foreign trade operations, including 1,879 - legal entities and 601 - physical entities.

The share of public sector in exports totaled $3.56 billion (94.99 percent), private sector - $179.83 million (4.76 percent), the share of physical entities - $9.41 million (0.25 percent).

The share of public sector in import operations amounted to $243.87 million (20.5 percent), the private sector - $906.99 million (76.23 percent), physical entities -$39.02 million (3.27 percent).

Azerbaijan's trade operations with foreign countries in January-February 2014

Country name

Export, thousand dollars

Compared to January-February 2013, %

Import, thousand dollars

Compared to import in January-February 2013, %

Total

3 778 508.42

90.31

1 189 881.43

82.99

Including

European countries, total

2 073 936.83

108.86

381 261.28

95.23

Austria

68 259.04

58.92

16 251.76

93.16

Belgium

207.82

18.00

13 229.89

102.78

Bulgaria

10.12

0.02

2 978.86

153.60

Great Britain

983.03

0.87

86 577.44

80.01

Hungary

172.40

0.00

4 912.07

121.89

Germany

440 123.81

422.23

95 735.67

95.55

Greece

0.00

0.00

590.45

75.02

Denmark

171.84

1111.99 times

2 565.56

90.44

Ireland

0.01

0.00

2 219.43

136.62

Spain

0.00

0.00

7 056.06

106.65

Italy

955 495.91

97.58

30 089.17

125.23

Cyprus

0.00

0.00

240.24

0.97

Latvia

0.00

0.00

1 588.24

148.35

Lithuania

80.91

12.14

1 351.43

34.59

Luxemburg

0.31

0.00

505.84

36.53

Malta

12 859.77

0.00

58.28

9.01

Netherlands

4 655.65

620.98

27 464.43

123.51

Poland

3 296.73

22.87 times

9 971.90

134.31

Portugal

117 506.80

51.71

453.20

199.87

Romania

70 765.60

99.92

4 102.74

175.53

Slovakia

0.00

0.00

4 015.26

100.91

Slovenia

0.00

0.00

1 883.58

182.20

Finland

0.00

0.00

27 201.41

260.65

France

334 382.10

307.64

27 507.98

99.98

Croatia

0.00

0.00

2 437.46

416.68

Czech Republic

64 964.98

174.01

6 893.22

118.87

Sweden

0.00

0.00

2 347.21

36.61

Estonia

0.00

0.00

1 032.51

15.91 times

Other countries, total

1 590 574.01

77.47

520 330.04

78.98

Albania

0.00

0.00

1.46

0.00

Australia

87.12

181.09

452.91

29.70

Algeria

0.00

0.00

76.57

858.09

Anguilla

0.00

0.00

188.23

104.47

Angola

0.81

3.58

12.55

0.00

Andorra

0.00

0.00

720.39

66.25 times

Argentina

25.52

0.00

1 822.84

158.77

Aruba

1.97

2.35

0.00

0.00

Afghanistan

38 782.46

190.40

0.00

0.00

Bangladesh

0.00

0.00

38.50

14.56 times

Barbados

0.00

0.00

195.52

0.00

Bahrain

17.00

110.98

261.31

511.91

Belize

0.00

0.00

2 254.64

763.92 times

Bermuda islands

26.11

62.01

0.00

0.00

Bosnia and Herzegovina

0.00

0.00

12.18

232.46

Brazil

51.17

61.84

27 327.06

251.27

Brunei Darussalam

5.59

209.52

0.04

0.75

Virgin Islands (Great Britain)

0.00

0.00

100.01

30.14

Vietnam

0.00

0.00

782.59

122.15

Venezuela

0.00

0.00

5 051.35

432.93 times

Gabon

0.00

0.00

0.37

0.46

Ghana

38.77

90.55

1.55

2.37

Gambia

0.00

0.00

0.05

0.00

Guinea

2.79

0.00

0.00

0.00

Hong Kong

153.85

14.25

96.79

70.17

Honduras

0.00

0.00

0.11

0.00

Georgia

108 947.02

121.17

16 786.00

115.43

Guam (U.S)

0.00

0.00

1.67

0.00

Jabalia

0.00

0.00

471.55

98.63

Dominique

0.00

0.00

5.94

0.00

Dominican Republic

0.00

0.00

5.86

0.00

Egypt

15 381.97

537.75 times

130.51

169.86

Zambia

0.00

0.00

109.40

31.48

Zimbabwe

0.10

0.00

30.14

11.86

Israel

217 613.08

299.37

1 050.27

79.90

India

118 409.02

39.32

4 572.12

63.60

Indonesia

499 175.34

183.29

7 154.69

25.40 times

Jordan

0.00

0.00

113.71

24.40

Iceland

0.00

0.00

24.48

42.63

Iraq

53 212.80

63.09

34.37

0.00

Iran

4 912.11

35.15

28 266.14

98.65

Yemen

113.82

105.85

1.83

29.26

Cayman Islands

13.24

149.16

0.00

0.00

Cambodia

0.00

0.00

4.96

0.00

Canada

21.02

0.00

7 008.86

644.51

Cameroon

0.00

0.00

98.08

27.24 times

Qatar

5.31

0.00

4.68

50.11

Kenya

0.00

0.00

0.31

0.33

China

8 283.29

213.54

94 402.83

130.44

Columbia

1.44

3.15

785.83

387.99

Congo

15.69

101.34

36.60

0.00

Democratic People's Republic of Korea

0.00

0.00

31 014.04

77.09

Republic of Korea

0.00

0.00

10 828.24

43.98

Costa-Rica

0.00

0.00

8.61

141.05

Ivory Coast

0.00

0.00

5.40

148.51

Cuba

0.00

0.00

7.89

0.15

Kuwait

0.00

0.00

0.32

0.00

Lebanon

11.90

0.00

312.72

354.37

Libya

166 272.34

116.72

874.40

162.90 times

Liechtenstein

0.00

0.00

3.15

18.64

Madagascar

0.00

0.00

6.62

173.07

Macedonia

0.00

0.00

5.32

82.22

Malawi

0.00

0.00

232.86

43.21

Malaysia

4.08

0.00

734.38

11.15

Morocco

0.00

0.00

11.70

149.23

Martinique

0.00

0.00

0.04

0.00

Marshall islands

0.00

0.00

88.94

88.94 times

Mexico

9.41

263.88

1 624.28

125.23

Mozambique

0.00

0.00

13.37

0.00

Mongolia

82.56

78.67

41.04

0.00

Montenegro

11.46

510.02

0.39

4.59

Isle of Man

0.00

0.00

0.48

0.00

Nepal

0.00

0.00

5.95

113.09

Nigeria

17.26

53.10

0.75

0.00

Niue (New Zealand)

0.00

0.00

291.19

69.18 times

New Zealand

0.00

0.00

2 337.80

190.55

Norway

7.70

15.16

1 756.62

96.94

United Arab Emirates (UAE)

359.49

47.00

7 909.18

68.94

Oman

0.00

0.00

9.53

35.11

Pakistan

38.27

0.00

81.66

38.21

Palau

0.00

0.00

39.96

0.00

Panama

862.50

0.00

7.39

0.00

Papua New Guinea

2.11

234.59

0.00

0.00

Paraguay

0.00

0.00

13.18

0.00

Peru

0.17

1.66

57.31

76.69

Puerto Rico (USA)

0.00

0.00

0.01

0.69

Rwanda

0.00

0.00

0.84

18.52

Salvador

0.00

0.00

2.01

0.00

Saudi Arabia

4.26

41.59

2 119.94

22.14

San Marino

0.00

0.00

13.53

0.00

Swaziland

0.00

0.00

0.73

0.00

Serbia

0.00

0.00

950.35

387.24

Seychelles

0.00

0.00

58.44

0.00

Singapore

41.82

0.00

4 777.87

44.09

Syria

0.00

0.00

65.01

156.33

United States of America (USA)

543.08

0.23

39 610.22

74.59

Sudan

5.22

46.40

130.60

0.00

Sierra-Leone

7.00

0.00

0.00

0.00

Taiwan

331 407.27

142.40

676.96

11.61

Thailand

113 919.69

24.11

2 461.43

61.97

Togo

42.38

0.00

0.00

0.00

Trinidad and Tobago

46.08

105.75

1.02

6.23

Tunisia

0.00

0.00

5.84

43.04

Turkey

67 847.18

67.98

198 885.00

110.06

Faroe Islands

0.00

0.00

48.37

0.00

Fiji

0.00

0.00

79.42

0.00

Philippines

0.00

0.00

61.17

119.73

Chile

0.00

0.00

86.63

105.96

Switzerland

9 580.11

77.67

8 682.90

13.11

Sri-Lanka

0.00

0.00

1 960.91

64.39

Uganda

37.12

0.00

0.00

0.00

Uruguay

0.00

0.00

984.31

562.07 times

Ecuador

0.00

0.00

1 265.89

153.23

South African Republic

42.10

0.00

131.72

3.30

Jamaica

0.00

0.00

3 069.06

1345.02 times

Japan

559.51

2.53

15 657.89

14.24

Others

146.00

125.69

0.00

0.00

CIS countries, total:

113 997.58

50.56

288 290.11

76.94

Belarus

644.44

34.37

7 633.77

108.22

Kazakhstan

8 185.00

107.12

33 491.35

69.25

Kyrgyzstan

1 814.97

126.11

228.31

164.27

Moldova

0.00

0.00

1 037.30

172.63

Uzbekistan

7 383.21

14.36 times

3 562.22

256.63

Russia

89 576.21

45.58

168 223.97

73.72

Tajikistan

38.00

2.71

185.82

0.00

Turkmenistan

1 391.88

22.16

833.50

28.63

Ukraine

4 963.87

50.76

73 093.86

84.93

source: Azerbaijani state customs committee

Latest

Latest