Foreign trade of Azerbaijan (January-March 2015)

The foreign trade turnover with 122 world countries amounted to $5.81 billion in January-March 2015, or 18.61 percent less than in January-March 2014. The volume of exports decreased by 37.07 percent and amounted to $3.38 billion compared to January-March 2014. The volume of import increased by 37.66 percent and amounted to $2.43 billion.

Azerbaijan exported 950 goods and imported 4,576 different goods.

As of January-March 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of over $955.2 million.

The country's foreign trade surplus amounted to $3.6 billion in January-March 2014.

As in previous periods, oil, gas and oil products were mainly exported from Azerbaijan in January-March 2015.

Main products exported from Azerbaijan

Source: Azerbaijani state customs committee

Most of Azerbaijan's exports as of January-March 2015 (77.72 percent) fell to the export of crude oil. The exports of crude oil decreased by 42.37 percent compared to January-March 2014. This is connected with a decrease in the world oil prices.

The physical export of oil products from Azerbaijan continued increasing in March 2015. This allowed keeping the export revenue growth, which began in February.

According to the Azerbaijani State Customs Committee, the export of oil products from the country totaled 595,600 metric tons worth $199.6 million in January-March 2015. In financial terms, this was by 28.55 percent less than the export for the same period of 2014 ($ 279.4 million). In physical terms, the export growth was 49.83 percent from year to year. The export of oil products ensured 5.9 percent of total exports in January-March

According to the State Customs Committee, gas exports, according to the meters, amounted to 2.43 billion cubic meters in January-March 2015 compared to 2.39 billion cubic meters in January-March last year. Some 487.79 million cubic meters in the amount of $75.84 million were registered upon cargo customs declarations in January-March versus $ 821.595 million cubic meters in the amount of $145.954 million in January-March 2014. As a result, the physical gas export reduced by 1.7 times and revenues - by 48.34 percent. As of March, the share of gas in total exports amounted to 2.24 percent compared to 1.4 percent in 2014.

The supply of electricity for export from Azerbaijan sharply increased in March 2015.

According to the meters, the supply of electricity for export totaled 89.69 million kilowatts / hour in January-March 2015 or by 1.6 times more than in the same period of 2014 (56.16 million kW / h ).

As for the chemical sector of the country, the cost of chemical product export increased threefold during the first quarter of the year.

The export volume of fruits and vegetables, which is the basis of the agricultural exports of Azerbaijan, has greatly increased. According to the committee, exports of Azerbaijan's agricultural products increased by 76.98 percent in January-March 2015 compared to January-March 2014.

Its supplies to Russia's markets increased. The logistics centers are built in Azerbaijan and outside the country for storage, transportation, export and sale of agricultural products.

In this period, the largest amount of export fell on Italy in January-March 2015. Thus, during this period Azerbaijan exported goods totaling $773.63 million to Italy which makes up 22.86 percent of a total export volume. Mainly oil and oil products are exported to this country.

Germany ($444.07 million) and France $242.06 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.

The US ranks first on largest import volume ($488.94 million) in January-March 2015. About $20.13 percent of the Azerbaijani imports fell to it. Russia ranks second - $334.93 million and Turkey - third ($322.98 million)

Most of Azerbaijan's imports or 27.97 percent in the reporting period fell to the import of vehicles and spare parts. They were imported to the amount of $679.27 million in January-March 2015 or by 4 times more than in 2014.

This kind of import ranked first.

However, despite an increase in the value of imports of these products, the physical import of cars to Azerbaijan in January-March 2015 decreased by 39.3 percent. Some 10,035 cars (4,090 cars in January, 3,421 cars in February, 2,524 in March), including 9,256 (3,870, 3,161 and 2,225) passenger cars, 500 trucks, 203 buses and 76 special-purpose vehicles were imported in January-March 2015. For comparison, some 22,511 vehicles, including 20, 305 cars were imported in January-March 2014.

The vehicles, mechanisms, electrical appliances, equipment in the amount of $500.59 million (a share in total imports - 20.61 percent) were brought to the country.

Thus, the import of ferrous metals ranks second in terms of an import volume in the country during the period. The share of these products in a total import volume of the country hit 12.42 percent in January-March 2015, while this volume was 301.61 million AZN in nominal terms.

The import of meat and butter significantly increased in January-March 2015 (by 10.12 percent and 48.43 percent, accordingly compared to January-March 2014) which is related to insufficient domestic production. The cost of grain import increased twofold.

As a result, as of the first quarter of 2015, the cost of almost all goods imported into the country increased. This is connected with the devaluation of manat.

Main products imported to Azerbaijan

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, the countries-non-EU and CIS members lost their status as the main trading partners of the country in January-March. These countries formed the foreign trade turnover of Azerbaijan by 44.16 percent or $2.567 billion, while the EU countries - by 46.4 percent ($2.697 billion). Only 9.44 percent or $0.548 billion accounted for the CIS.

Azerbaijan's exports to the EU countries amounted to $2.079 billion in January-March, or 61.46 percent of a total export volume amid a 23.6 percent decrease. Imports from EU ($0.617 billion) increased by 11.66 percent and amounted to 25.43 percent of a total import volume. As a result, the country had a black ink of trade balance with the EU at the level of $1.462 billion. This exceeded the country's foreign trade surplus.

The exports to the countries-non-EU and CIS members dropped by 50.49 percent - to $1.225 billion in January-March or 36.23 percent of a total export volume, while imports increased by 1.79 times and hit $1.340 billion or 55.21 percent of the total import volume. As a result, Azerbaijan received a $0.115 billion red ink with these countries.

The exports to the CIS countries for the period totaled $0.078 billion (2.31 percent of the total export volume) by decreasing by 56.34 percent and imports - $0.470 billion (19.36 percent) by increasing by 1.55 percent. As a result, the country had a red ink in trading with them to the amount of $0.392 billion.

During this period, about 3,304 legal and physical entities were involved in foreign trade operations, including 2,122 - legal entities and 1,182 - physical entities.

The share of public sector in exports totaled $2.98 billion, private sector - $388.38 million, the share of physical entities - $15.34 million.

The share of public sector in import operations amounted to $536.97 million, the private sector - $1.81 billion, physical entities -$85.38 million.

Azerbaijan's trade operations with foreign countries in January-March 2015

source: Azerbaijani state customs committee