Foreign trade of Azerbaijan (January-April 2016)

The foreign trade turnover with 152 world countries amounted to $5.04 billion in January-April 2016, or 34.3 percent less than in January-April 2015. The volume of exports decreased by 42.63 percent and amounted to $2.45 billion compared to January-April 2015. The volume of import decreased by 23.85 percent and amounted to $2.59 billion.

Azerbaijan exported 1,503 goods and imported 5,931 different goods.

The red ink in the amount of $144.39 million was observed in Azerbaijan's foreign trade operations during this period.

For comparison, the foreign trade surplus hit $867.19 million in January-April 2015.

As in previous periods, oil, gas and oil products were mainly exported from Azerbaijan in January-April 2016.

Main products exported from Azerbaijan

Source: Azerbaijani state customs committee

Most of Azerbaijan's exports as of January-April 2016 (76.96 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $1.88 billion. The cost of crude oil exports decreased by 42.44 percent compared to January-April 2015. This is connected with a decrease in the world oil prices.

Currently, SOCAR supplies oil from Azerbaijan to more than 30 countries in Europe, Asia and America. The largest importers are Italy (25 percent), Germany (13 percent), Indonesia (10 percent), Israel (9 percent) and France (8 percent).

The physical export of oil products from Azerbaijan and export proceeds decreased in April 2016.

The oil products worth $125.21 million were exported from the country in January-April. In financial terms, this is by 56.06 percent less than the export for the same period of 2015. Some 5.11 percent of the country's total exports in January-April accounted for the export of oil products.

The export of gas from Azerbaijan worth $100.33 million was registered upon the customs declarations in January-April 2016 compared to $107.02 million in January-April 2015. As of January-April 2016, 4.1 percent of the country's total exports accounted for the export of gas.

The fourfold-growth was observed in exports of ferrous metals in January-April. The export of ferrous metals increased up to $30.89 million and hit 1.26 percent of the total export in January-April 2016.

The volume of exports of fruits and vegetables which are the basis of Azerbaijan's agricultural exports greatly increased. The exports of agricultural products increased by 58.45 percent in Azerbaijan in January-April 2016 compared to January-April 2015. The agricultural products are mainly supplied to the Russian markets. The logistics centers are being built in Azerbaijan and outside the country for storage, transportation, export and sale of agricultural products.

In this period, the largest amount of export accounted for Italy in January-April 2016. Thus, during this period Azerbaijan exported goods totaling $443.4 million to Italy which makes up 18.1 percent of a total export volume. Oil and oil products are mainly exported to this country.

France ($268.85 million) and Germany $250.86 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 ($387.33 million) in January-April 2016. Some 14.93 percent of the Azerbaijani imports accounted for it. Turkey ranks second - $303.50 million and Singapore - third ($173.39 million).

Most of Azerbaijan's imports or 24.29 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $630.06 million were imported in January-April 2016, which is by 12.04 percent less than in January-April 2015.

The import of ferrous metals consolidated its positions in the country's foreign trade. The share of these products in a total import volume of the country hit 15.3 percent in January-April 2016, while this volume was 396.9 million manat in nominal terms or by 28.4 percent less than in January-April 2015.

Vehicles and spare parts worth $323.06 million (a share in total imports - 12.45 percent) were supplied to the country. The car imports decreased by 59.72 percent compared to January-April 2015.

Azerbaijan imported 1,742 vehicles in January-April 2016 compared to 12,890 in the same period of 2015.

Cars and motor vehicles accounted for 1,509 of the total number of vehicles imported by the country in January-April 2016, according to the report.

Azerbaijan imported 11,740 cars and motor vehicles in January-April 2015.

Moreover, the country imported 152 trucks in January-April 2016 (645 in January-April 2015). The remaining part of the 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.

Main products imported to Azerbaijan

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, the countries-non-EU and CIS members restored their status as the main trading partners of the country in January-April. These countries formed the foreign trade turnover of Azerbaijan by 45.4 percent or $2.291 billion, while the EU countries - by 40.9 percent ($2.064 billion). Only 13.7 percent or $0.689 billion accounted for the CIS.

Azerbaijan's exports to the EU countries amounted to $1.337 billion in January-April, or 54.6 percent of a total export volume amid a 49.5 percent decrease. Imports from EU ($0.727 billion) decreased by 20.5 percent and amounted to 28 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 $0.610 billion compared to the country's total trade surplus by $0.144 billion.

The exports to the countries-non-EU and CIS members dropped by 36.6 percent - to $0.949 billion in January-April or 38.7 percent of a total export volume, while imports - by 23.7 percent and hit $1.342 billion or 51.7 percent of the total import volume. As a result, Azerbaijan received a $0.364 billion black ink with these countries.

The exports to the CIS countries for the period totaled $0.164 billion (6.7 percent of the total export volume) by increasing by 1.3 times and imports - $0.524 billion (20.3 percent) by decreasing by 28.4 percent. As a result, the country had a red ink in trading with them to the amount of $0.360 billion.

During this period, about 6,237 legal and physical entities were involved in foreign trade operations, including 3,189 - legal entities and 3,048 - physical entities.

The share of public sector in exports totaled $2.16 billion, private sector - $250.84 million, the share of physical entities - $41.01 million.

The share of public sector in import operations amounted to $378.15 million, the private sector - $2.08 billion, physical entities -$137.96 million.

Azerbaijan's trade operations with foreign countries in Jan.-April 2016

source: Azerbaijani state customs committee