Foreign trade of Azerbaijan (January-November 2015)

The foreign trade turnover with 162 world countries amounted to $17.21 billion in January-November 2015, or 34.73 percent less than in January-November 2014. The volume of exports decreased by 48.73 percent and amounted to $10.6 billion compared to January-November 2014. The volume of import increased by 1.03 percent and amounted to $8.2 billion.

Azerbaijan exported 2,391 goods and imported 6,102 different goods.

As of January-November 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.4 billion.

The country's foreign trade surplus exceeded $12.6 billion in January-November 2014.

At the same time, the exports amounted to $854.3 million, while imports - $756.16 million in November 2015. As a result, a foreign trade surplus worth almost $98.14 million was formed in November.

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

Main products exported from Azerbaijan

Source: Azerbaijani state customs committee

Most of Azerbaijan's exports as of January-November 2015 (77.78 percent) fell to the export of crude oil. During the reporting period, the country exported oil worth $8.25 billion. The cost of crude oil exports decreased by 53.01 percent compared to January-November 2014. This is connected with a decrease in the world oil prices.

Currently, SOCAR supplies oil from Azerbaijan to about 30 countries in Europe, Asia and America. Among its largest European importers are Italy (23 percent), Germany (11 percent), France (9 percent).

SOCAR's share in total exports of Azerbaijani oil is about 70 percent

The physical export of oil products from the country and export proceeds decreased in November 2015 compared to October. The export of oil products from the country amounted to 1.993 million tons worth $688.8 million in January-November 2015. This is by 45.6 percent less than the export for the same period of 2014 ($1.266 billion).

The export growth was 5.8 percent from year to year. The export of oil products ensured 6.49 percent of the country's total exports in January-November.

The export of gas from Azerbaijan (according to the meters) decreased by 2.09 percent in January-November. The gas supplied for export, according to the meters, amounted to 7.563 billion cubic meters in January-November 2015 compared to 7.724 billion cubic meters in January-November 2014.

Some 1.183 billion cubic meters in the amount of $187.4 million were registered upon the cargo customs declarations in January-November compared to 1.531 billion cubic meters in the amount of $257.06 million in January-November 2014. As a result, the physical gas exports dropped by nearly 22.7 percent, and its revenues - by 27.1 percent.

Azerbaijan exported 263.32 million kilowatt / hours of electricity upon customs declarations in January-November 2015 compared to 544.6 million kilowatts / hours exported in the same period in 2014. Azerbaijan exported electricity worth $15.66 million in January-November 2015 compared to $28.52 million for the same period in 2014.

The exports of chemical products reached $77.5 million in January-November or 0.73 percent of total exports. It increased by 20.69 percent compared to the same period of 2014.

In this period, the largest amount of export fell on Italy in January-November 2015. Thus, during this period Azerbaijan exported goods totaling $2.15 billion to Italy which makes up 20.28 percent of a total export volume. Oil and oil products are mainly exported to this country.

Germany ($1.18 billion) and France $776.01 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.

Russia ranks first on largest import volume ($1.31 billion) in January-November 2015. Some 16.05 percent of the Azerbaijani imports fell to it. Turkey ranks second - $1.03 billion and the US - third ($774.32 million).

Most of Azerbaijan's imports or 25.84 percent in the reporting period fell to the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $2.11 billion were imported in January-November 2014, which is by 6 percent less than in January-November 2014.

Many vehicles and spare parts worth $1.12 billion (a share in total imports - 13.67 percent) were supplied to the country. The car imports increased twofold (149.74 percent) compared to the same period of 2014.

However, despite an increase in the value of imports of these products, Azerbaijan reduced the import of cars twofold.

Some 25,647 cars were imported to Azerbaijan in January-November 2015 compared to 56,804 cars imported in the same period of 2014.

Some 22,746 vehicles of the total number of vehicles imported in January-November 2015 accounted for the cars and motor vehicles. Some 51,589 cars and motor vehicles were imported into the country in January-November 2014. Moreover, some 1,871 trucks were imported to Azerbaijan in January-November 2015 (4,580 trucks in January-November 2014). The rest import accounted for other types of vehicles.

Azerbaijan passed to the Euro-4 ecological standard. That's why, the car supply volumes declined. It has been used since April 1, 2014. The introduction of Euro 4 standard greatly limits the import of used vehicles. Most of vehicles imported from Georgia to Azerbaijan accounted for the used cars.

The import of ferrous metals ranks third 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 17.39 percent in January-November 2015, while this volume was 1.42 billion manat in nominal terms or by 66.98 percent more than in 2014.

The import of wood and wood products significantly increased in January-November 2015 (by 79.66 percent compared to January-November 2014). This is associated with an increase in its using in the construction and reconstruction work in the country.

Main products imported to Azerbaijan

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, the countries-non-EU and CIS members did not restore their status as the main trading partners of the country in January-November. These countries formed the foreign trade turnover of Azerbaijan by 40.7 percent or $7.661 billion, while the EU countries - by 47.3 percent ($8.892 billion). Only 12 percent or $2.262 billion accounted for the CIS.

Azerbaijan's exports to the EU countries amounted to $6.337 billion in January-November, or 59.7 percent of a total export volume amid a 42.7 percent decrease. Imports from EU ($2.555 billion) decreased by 6.8 percent and amounted to 31.2 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 $4.781 billion. This exceeded the country's foreign trade surplus ($2.423 billion).

The exports to the countries-non-EU and CIS members dropped by 57 percent - to $3.815 billion in January-November or 35.9 percent of a total export volume, while imports increased by 9.3 percent and hit $3.846 billion or 46.9 percent of the total import volume. As a result, Azerbaijan received a $0.032 billion red ink with these countries.

The exports to the CIS countries for the period totaled $0.468 billion (4.4 percent of the total export volume) by decreasing by 40.6 percent and imports - $1.794 billion (21.9 percent) by decreasing by 3.09 percent. As a result, the country had a red ink in trading with them to the amount of $1.327 billion.

During this period, about 6,716 legal and physical entities were involved in foreign trade operations, including 3,473 - legal entities and 3,243 - physical entities.

The share of public sector in exports totaled $9.38 billion, private sector - over $1 billion, the share of physical entities - $198.17 million.

The share of public sector in import operations amounted to over $1.42 billion, the private sector - $6.5 billion, physical entities -$315.9 million.

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

source: Azerbaijani state customs committee