Foreign trade of Azerbaijan (January-August 2016)

The foreign trade turnover with 173 world countries amounted to $11.33 billion in January-August 2016, or 24.96 percent less than in January-August 2015. The volume of exports decreased by 37 percent and amounted to $5.79 billion compared to January-August 2015. The volume of import decreased by 6.23 percent and amounted to $5.5 billion.

Azerbaijan exported 2,380 goods and imported 6,860 different goods. The reporting period of 2016 ended with a black ink of $250.3 million, while a surplus of $2.28 billion was recorded as of August 2015.

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

Main products exported from Azerbaijan

Products

Jan.-Aug. 2016

Compared to Jan.-Aug. 2015, %

cost, thousand dollars

Share in export volume, %

Crude oil

4 165 218,51

71,93

65,13

Oil products

236 434,98

4,08

44,25

Natural gas

632 993,91

10,93

54,23

Fruits and vegetables

188 830,27

3,26

131,92

Animal fat and vegetable oil

10 149,19

0,18

10,01

Spirits and soft drinks

12 052,95

0,21

73,5

Aluminum

61 692,84

1,07

104,7

Ferrous metals, tons

59 821,05

1,03

303,56

Chemical products

40 075,35

0,69

57,12

Others

249821,23

4,33

58,77

Source: Azerbaijani state customs committee

Most of Azerbaijan’s exports as of January-August 2016 (71.93 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $4.16 billion. The cost of crude oil exports decreased by 34.87 percent compared to January-August 2015. This is connected with a decrease in the global oil prices. Currently, SOCAR supplies oil from Azerbaijan to more than 30 countries in Europe, Asia and America.

According to the Azerbaijani State Customs Committee, in January-August 2016 the export of oil products from Azerbaijan decreased from year to year.

The export of oil products amounted to $236.43 million in January-August.

Some 4.08 percent of the country’s total export volume accounted for the export of oil products in January-August 2016.

In January-August 2016 the export of gas from Azerbaijan decreased by 45.77 percent in physical terms from year to year.

The share of gas in the total export was estimated at 10.93 percent in January-August 2016.

The threefold growth was observed in exports of ferrous metals in January-August. The export of ferrous metals increased by more than threefold up to $59.82 million or 1.03 percent of total exports in January-August 2016.

The volume of exports of fruits and vegetables which are the basis of agricultural exports of Azerbaijan greatly increased. The exports of agricultural products in Azerbaijan increased by 31.92 percent in January-August 2016 compared to January-August 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.

The largest amount of export accounted for Italy in January-August 2016. Thus, during this period Azerbaijan exported goods totaling $1.042 billion to Italy which makes up 18.01 percent of a total export volume. Oil and oil products are mainly exported to this country.

Turkey ($726.66 million) and Taiwan $467.18 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 the largest import volume ($967.77 million) in January-August 2016. Some 17.47 percent of the Azerbaijani imports accounted for it. Turkey ranks second - $732.35 million and China - third ($423.97 million).

Most of Azerbaijan’s imports or 23.47 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $1.3 billion were imported in January-August 2016, which is by 2.23 percent less than in January-August 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 reached 14.54 percent in January-August 2016, while this volume was 805.57 million manat in nominal terms or by 19.91 percent less than in January-August 2015.

Vehicles and spare parts worth $570.6 million (a share in total imports – 10.3 percent) were supplied to the country. The car imports decreased by 44.44 percent compared to January-August 2015.

According to the State Customs Committee, in January-August 2016, the import of cars decreased by 6.1 times year on year. Some 3,454 vehicles were imported into the country in January-August 2016. Some 2,981 passenger cars, 342 trucks, 54 buses and 77 special vehicles were imported. Some 575 vehicles, including 506 passenger cars were imported in August. For comparison, some 21,147 vehicles, including 18,821 passenger cars were imported in January-August 2015.

The import of meat and dairy products greatly increased for the reporting period, which points to a lack of domestic production of these products.

In particular, the value of imports of meat increased by 70.12 percent, oil - by 133.56 percent and milk - by 34.85 percent compared to the same period of 2015.

Main products imported to Azerbaijan

Products

Jan.-Aug. 2016

Compared to Jan.-Aug. 2015, %

cost

(thousand dollars)

Import volume share, %

Meat

20 375,73

0,37

170,12

Butter

33 358,86

0,6

233,56

Milk

5 193,17

0,09

134,85

Grain

178 980,97

3,23

82,76

Cars, mechanisms, electric goods, equipment

1 300 247,33

23,47

97,77

Vehicles and spare parts

570 607,65

10,3

55,56

Wood and wooden goods

121 808,98

2,2

74,33

Ferrous metals, tons

805 573,57

14,54

80,09

Furniture and its parts

74 494,50

1,34

102,5

Pharmaceutical goods

117 568,15

2,12

63,54

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, the countries-non-EU and CIS members kept their status as the main trading partners of the country in January-August. These countries formed the foreign trade turnover of Azerbaijan by 48.2 percent or $5.462 billion, while the EU countries - by 36.94 percent ($4.186 billion). Only 14.86 percent or $1.683 billion accounted for the CIS.

Azerbaijan’s exports to the EU countries amounted to $2.635 billion in January-August, or 45.5 percent of a total export volume amid a 46.29 percent decrease. Imports from EU ($1.551 billion) decreased by 11.43 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 $1.084 billion compared to the country's total trade deficit - $0.250 billion.

The exports to the countries-non-EU and CIS members dropped by 30.39 percent - to $2.768 billion in January-August or 47.8 percent of a total export volume, while imports - by 5.04 percent and reached $2.694 billion or 48.63 percent of the total import volume. As a result, the deficit worth $0.074 billion was observed in Azerbaijan’s trade relations with these countries.

The exports to the CIS countries for the period totaled $0.388 billion (6.7 percent of the total export volume) by increasing by 1.26 times and imports - $1.295 billion (23.37 percent) by decreasing by 1.87 percent. As a result, the country had a red ink in trading with them to the amount of $0.907 billion.

Some 173 countries are foreign trade partners of Azerbaijan for eight months of 2016.

During this period, about 10,658 legal and physical entities were involved in foreign trade operations, including 4,566 - legal entities and 6,092 - physical entities.

The share of public sector in exports totaled $4.6 billion, private sector – almost $1.1 billion, the share of physical entities - $139.7 million.

The share of public sector in import operations amounted to $828.6 million, the private sector – almost $4.4 billion, physical entities -$312.38 million.

Azerbaijan’s trade operations with foreign countries in Jan.-Aug. 2016

Country

Export, thousand dollars

Compared to Jan.-Aug. 2015, %

Import, thousand dollars

Compared to Jan.-Aug. 2015, %

Total

5 790 280,97

63

5 539 988,10

93,77

Including

European countries, total:

2 634 769,84

53,71

1 550 967,48

88,57

Austria

45 514,15

15,52

50 050,29

87,89

Belgium

3 500,41

28,46

37 149,57

93,81

Bulgaria

166,45

0

17 122,68

215,17

Great Britain

54 901,38

11,38 times

363 154,24

132,96

Hungary

831,07

24,21 times

28 924,80

142,43

Germany

421 074,43

42,38

250 278,60

52,4

Greece

444,24

0,48

11 498,48

110,96

Denmark

34,48

138,98

13 759,44

123,1

Ireland

23 410,74

90,56

14 351,03

238,89

Spain

64 865,22

22,39

31 056,52

90,51

Italy

1 042 641,47

63,52

235 430,75

75,86

Cyprus

1 029,35

119,07 times

358,49

3,71

Latvia

316,43

116,84

5 043,82

95,98

Lithuania

1 584,14

692,87

6 685,30

26,97

Luxemburg

25,47

101,88

2 460,20

34,22

Malta

34 819,47

32,05

31,25

100,41

Netherlands

32 053,67

34,95

53 555,54

89,81

Poland

3 854,77

105,52

45 513,03

111,97

Portugal

175 419,18

77,26

8 318,39

52,58

Romania

55 321,34

113,26

60 831,87

200,89

Slovakia

42,41

444,45

17 135,07

123,22

Slovenia

2 188,34

23,23

9 602,89

95,8

Finland

185,94

193,99

8 770,13

33,68

France

344 796,46

62,52

94 065,62

63,69

Croatia

141 312,83

128,48

50 567,34

43,08 times

Czech Republic

183 989,73

45,87

72 413,23

181,25

Sweden

302,71

406,38

61 027,29

92,45

Estonia

143,55

78,2

1 811,62

34,04

Other countries, total:

2 767 662,17

69,61

2 694 072,85

94,96

the Aland Islands

0

0

0,06

0

Albania

19,39

0

153,42

22,94 times

Algeria

317,69

34,48 times

306,68

567,47

Australia

81,86

59,24

5 224,49

76,4

Angola

152,65

446,49

8,6

0

Andorra

0

0

17,4

41,2

Antigua and Barbuda

0

0

9,16

0

Argentina

41,94

875,11

8 454,46

79,12

Afghanistan

27 095,53

20,01

0,8

0

Bahama Islands

0

0

0,56

26,03

Bangladesh

0,35

0

5 209,16

445,32

Barbados

0

0

26,8

0

Bahrain

5,94

28,19

68,07

0

Bolivia

0,69

0

1,3

0

Benin

0

0

0,1

0

Bosnia and Herzegovina

0

0

150,98

38,13

Botswana

0

0

1,2

0

Brazil

2 103,17

15,40 times

121 800,99

166,93

Burundi

0

0

5,42

0

Bhutan

0

0

3,79

0

Vanuatu

0

0

0,49

0

Venezuela

108,72

394,74

0

0

Virgin Islands (US)

0

0

1,4

0

Virgin Islands (UK)

0

0

0,03

0,01

Vietnam

48 749,72

413,36 times

16 645,11

363,25

Gabon

2,06

44,77

0

0

Haiti

0

0

1,44

14,25 times

Ghana

5,51

0

106,52

0

Guyana

0

0

147,96

169,06

Guatemala

0

0

172,87

0

La Gomera

0

0

17,57

0

Honduras

0

0

8,19

336,32

Hong Kong

35,6

6,87

676,14

102,87

Greenland

0

0

47,19

90,27

Georgia

197 250,81

59,82

18 297,40

37,95

Guam

0

0

9,01

0

Jabaliya

0

0

43,43

434,32

Djibouti

0

0

36,27

0

Dominique

7,06

0

0,24

0

The Dominican Republic

0

0

60,6

102,24

Egypt

232,82

251,8

3 635,69

126,17

Zambia

238,66

0

100,72

0

Zimbabwe

0

0

20,37

0

Israel

345 845,15

64,47

9 255,67

59,4

India

234 529,58

107,43

33 867,38

133,02

Indonesia

77 330,12

20,26

24 413,99

129,11

Jordan

1 677,74

7039,88 times

1 558,43

305,98

Iceland

0

0

1 174,26

333,19

Iraq

11 072,63

8,79

11,55

5,8

Iran

30 657,60

169,22

91 424,74

163,45

Cape Verde

7 778,44

0

0

0

Caicos Islands

0

0

105,16

0

Cambodia

0

0

1 519,35

15,06 times

Cameroon

0

0

1,23

0

Canada

35 281,07

29,61

10 390,61

79,84

Qatar

43,1

41,13

36,01

395,27

Congo

0

0

0,47

0

Kenya

0,05

0,37

579,02

13,40 times

Kiribati

0

0

0,04

0,26

China

115 584,69

312,77

423 971,84

124,8

Columbia

10,13

36,53

112,95

24,67

Korea

0

0

277,31

631,75 times

Republic of Korea

67,7

10,75 times

50 449,07

51,9

Costa-Rica

0

0

734,73

315,57

Côte d’Ivoire

0,84

226,52

7,01

0

Cuba

0

0

62,31

42,67 times

Kuwait

91,62

382,72

2 249,01

87,82

Curaçao

0

0

24,5

18,91 times

Laos

0

0

1,59

0

Lesotho

0

0

0,22

0

Liechtenstein

0

0

19,84

347,27

Lebanon

42 664,55

0

298,34

45,69

Mauritius

0

0

38,25

268,18

Mauritania

0

0

22,59

0

Madagascar

0

0

270,2

196,27

Macedonia

6,34

0

153,36

22,18

Malawi

0

0

0,07

0

Malaysia

1 132,20

519,62

24 226,65

90,42

Mali

0

0

1,21

0

the Maldives

0

0

3,42

314,72

Morocco

0

0

1 755,20

38,47

Martinique

0

0

11,32

0

Marshall Islands

0

0

18,65

13,07

Mexico

188,1

857,24

20 285,52

108,77

Mozambique

102

50,23 times

0,03

0,46

Monaco

0

0

41,61

0

Mongolia

10,46

13,62

0

0

Maine

0

0

2,28

0

Myanmar

0

0

94,21

579,31

Nauru

0

0

0,48

0

Nepal

0

0

5,1

0

Niger

0

0

2,74

0

Nigeria

43,24

328,71

43,04

512,43

Nicaragua

0

0

0,58

935,98

Niue (New Zealand )

12,18

0

0

0

New Zealand

82,42

0

28 175,87

261,37

Norway

1 993,37

308,62

140 864,59

224,72

United Arab Emirates (UAE)

7 430,40

231,64

48 232,95

127,03

Oman

74,98

14,90 times

24,15

69,19

Saint Helena island

0

0

4,4

0

Pakistan

669,7

267,62

4 306,61

345,77

Panama

0

0

0,28

0

Papua New Guinea

8,15

799,52

0

0

Paraguay

0

0

377,9

864,17

Palestine

61,29

0

0

0

Peru

190,94

45,62 times

334,69

21,08 times

Polynesia

0

0

12,4

0

Puerto Rico (USA)

0

0

57,22

28,65

Rwanda

0

0

0,77

0

El Salvador

0

0

2,49

0

Somahoz

0

0

0,03

14,97

San Marino

0

0

52,38

50,41

Saudi Arabia

472,95

608,47

8 034,94

130,66

Swaziland

0

0

224,95

0

Senegal

0

0

0,03

0

Serbia

1,38

5,2

2 764,69

86,6

the Seychelles

0

0

22,05

16,7

Singapore

658,55

311,96

185 731,64

198,11

Syria

0

0

196,24

185,06

United States of America (USA)

77 295,48

29,41

314 302,75

48,9

Somali

0

0

1,06

0

Sudan

0

0

10,36

0

Surinam

0

0

2,51

0

Sierra-Leone

19,9

0

0,1

2,99

Tanzania

0

0

329,73

352,43

Taiwan

467 182,08

933,08

9 446,60

96,68

Thailand

101 103,51

60,59

14 141,13

78,71

Trinidad and Tobago

20,31

175,44

56,01

0

Tunisia

126 344,81

46,83

1 685,74

547,13

Turkey

726 663,55

62,5

732 358,74

98,64

Uruguay

0

0

1 026,33

702,45

Faeroe Islands

0

0

497,49

63,72

the Fiji Islands

0

0

202,82

1415,34 times

Philippines

0

0

903,75

182,4

Falkland Islands

0

0

98,54

0

Chile

0

0

2 992,18

256,27

Switzerland

74 946,59

106,7

43 005,03

104,51

Sri-Lanka

0,1

0

27 013,23

300,39

Central African Republic

0

0

23,26

0

Ecuador

2,86

187,78

11 291,14

84,38

Ethiopia

0

0

29,48

0

South African Republic

274,45

392,07 times

5 277,50

221,82

Jamaica

0,7

0

2 811,40

22,38 times

Japan

1 110,48

136,66

226 234,12

61,51

Others

481,67

88,92

0

0

CIS countries, total:

387 848,96

125,56

1 294 947,77

98,13

Belarus

12 379,72

244,57

53 865,99

102,61

Kazakhstan

15 579,87

175,84

75 138,80

124,5

Kyrgyzstan

5 486,22

173,5

803,55

76,38

Moldova

473,94

523,64

2 201,53

116,4

Uzbekistan

1 737,16

19,29

4 820,75

92,99

Russia

228 932,64

94,77

967 777,93

98,82

Tajikistan

8 818,07

171,4

179,34

0

Turkmenistan

90 566,91

365,31

17 127,34

93,52

Ukraine

23 874,42

213,04

173 032,53

86,12

source: Azerbaijani state customs committee

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Georgia introduces new requirements for registration of trucks, buses, and minibusses
Third oil loading berth for Turkmenistan’s Turkmenbashi oil refinery under construction
Monument to famous Azerbaijani singer to be soon installed in Baku (Exclusive) (PHOTO)
Value of coupon payments to investors in Azerbaijan soars - National Depositary Center
Uzbekistan reveals companies interested in construction of solar power plant in Surkhandarya region
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