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Foreign trade of Azerbaijan (January 2017)

Analysis Materials 15 March 2017 17:21 (UTC +04:00)

The foreign trade turnover with 117 world countries amounted to $1.25 billion in January 2017 compared to 186 countries in January 2016, that is, by 16.79 percent more than in the same period of 2016.

The volume of exports increased by 25.71 percent and amounted to $804.63 million compared to January 2016. The volume of import increased by 3.64 percent and reached $450.05 million.

Azerbaijan exported 907 goods and imported 4,463 different goods.

Azerbaijan maintained a positive foreign trade balance in January, which was facilitated by the foreign trade growth. According to the Azerbaijani State Customs Committee, the foreign trade surplus was estimated at $354.576 million in January 2017, while a trade surplus worth $214.3 million was observed in January 2016.

As in previous periods, oil, gas and oil products were mainly exported from Azerbaijan in January 2017.

Main products exported from Azerbaijan

Products

January 2017

Compared to January 2016, %

cost, thousand dollars

Share in export volume, %

Crude oil

663 768,37

82,49

121,27

Oil products

21 573,94

2,68

69,35

Natural gas

26 988,55

3,35

155,61

Fruits and vegetables

24 046,12

2,99

151,26

Animal fat and vegetable oil

1 645,42

0,2

119,38

Spirits and soft drinks

739,38

0,09

364,14

Aluminum

9 490,21

1,18

151,57

Ferrous metals, tons

5 016,18

0,62

83,1

Chemical products

2 622,83

0,33

177,71

Others

32 189,88

4,02

191,75

Source: Azerbaijani state customs committee

Most of Azerbaijan’s exports as of January 2017 (82.49 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $663.77 million. The cost of crude oil exports increased by 21.27 percent compared to January 2016. 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, as of January 2017, the export of oil products from Azerbaijan decreased from year to year.

The export of oil products amounted to $21.57 million in January 2017, which is by 30.65 percent less than in January 2016.

Some 2.68 percent of the country’s total export volume accounted for the export of oil products in 2017.

In January 2017 the export of gas from Azerbaijan increased by 55.6 percent in physical terms from year to year.

The share of gas in the total export was estimated at 3.35 percent.

Almost fourfold increase in the export of alcoholic and non-alcoholic beverages was observed in Azerbaijan, which was the result of state support for encouraging the best domestic producers to export their products to the foreign markets.

So, during the period, which includes the last two months of 2016 and January 2017, almost 590,000 manat was returned to entrepreneurs as part of the export promotion mechanism. Wine exporters received most of these funds [80 percent].

The volume of exports of fruits and vegetables which are the basis of agricultural exports of Azerbaijan continues to increase.

The exports of agricultural products in Azerbaijan increased by 51.26 percent in January 2017 compared to January 2016.

Tomatoes and cucumbers, as well as walnuts and hazelnuts, cotton, tobacco are exported in large volumes from Azerbaijan.

The largest amount of export accounted for Italy in January 2017. Thus, during this period Azerbaijan exported goods totaling $205 million to Italy which makes up 25.48 percent of a total export volume. Oil and oil products are mainly exported to this country.

Taiwan ($108.38 million) and Turkey $62.98 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 ($83.63 million) in January 2017. Some 18.58 percent of the Azerbaijani imports accounted for it. Turkey ranks second - $64.54 million and China - third ($52.82 million).

Most of Azerbaijan’s imports or 23.81 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $107.13 million were imported in January 2017, which is by 30.89 percent less than in January 2016.

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 10.03 percent in January 2017, while this volume was 45.13 million manat in nominal terms or by 38.13 percent less than in January 2016.

Vehicles and spare parts worth $17.82 million (a share in total imports – 3.96 percent) were supplied to the country. The car imports increased by 49.48 percent compared to January 2016.

Some 469 vehicles were imported into the country in January 2017. Some 420 passenger cars, 41 trucks, 3 buses and 5 special vehicles were imported. Some 437 vehicles, including 401 passenger cars were imported in January 2016.

The import of butter, meat and dairy products greatly increased for the reporting period.

In particular, the value of imports of butter increased by over threefold, meat – by almost twofold and milk - by 0.54 percent compared to January 2016.

Main products imported to Azerbaijan

Products

January 2017

Compared to January 2016, %

cost

(thousand dollars)

Import volume share, %

Meat

3 040,57

0,68

197,97

Butter

3 983,77

0,89

324,4

Milk

454,62

0,1

100,54

Grain

10 857,09

2,41

322,82

Cars, mechanisms, electric goods, equipment

107 138,36

23,81

69,11

Vehicles and spare parts

17 826,89

3,96

149,48

Wood and wooden goods

12 520,54

2,78

152,92

Ferrous metals, tons

45 136,17

10,03

61,82

Furniture and its parts

5 780,02

1,28

124,23

Pharmaceutical goods

13 403,62

2,98

102,62

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, the countries-non-EU and CIS members remain the main trading partners of Azerbaijan in January 2017. These countries formed the foreign trade turnover of Azerbaijan by 45.79 percent or by $0.575 billion, while the EU countries - by 39.22 percent ($0.492 billion). Some 14.99 percent or $0.188 billion accounted for the CIS.

Azerbaijan’s exports to the EU countries amounted to $0.387 billion in January 2017, or 48.06 percent of a total export volume amid a 5.37 percent decrease.

Imports from EU ($0.105 billion) decreased by 26.97 percent and amounted to 23.434 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 $0.221 billion exceeding the country's total trade deficit ($0.355 billion).

The exports to the countries-non-EU and CIS members increased by 1.68 times up to $0.350 billion in January 2017 or 43.5 percent of a total export volume, while imports - by 6.96 times and reached $0.224 billion or 49.86 percent of the total import volume. As a result, the black ink worth $0.126 billion was observed in Azerbaijan’s trade relations with these countries.

The exports to the CIS countries for the period totaled $0.068 billion (8.43 percent of the total export volume) by increasing by 2.9 times and imports - $0.120 billion (26.71 percent) by increasing by 1.5 times. As a result, the country had a red ink in trading with the CIS countries in the amount of $0.052 billion.

During this period, about 2,879 legal and physical entities were involved in foreign trade operations, including 1,957 - legal entities and 922 - physical entities.

The share of public sector in exports totaled almost $729 million, private sector –$60.3 million, the share of physical entities - $15.4 million.

The share of public sector in import operations amounted to $44.9 million, the private sector – $378.8 million, physical entities -$26.34 million.

Azerbaijan’s trade operations with foreign countries in January 2017

Country

Export, thousand dollars

Compared to January 2016, %

Import, thousand dollars

Compared to January 2016, %

Total

804 627,99

125,71

450 052,27

103,64

Including

European countries, total:

386 668,99

94,63

105 452,83

73,03

Austria

1,71

0,98

1 958,36

120,15

Belgium

7,76

38,45

3 209,91

130,59

Bulgaria

33,03

144,8

688,85

146,77

Great Britain

429,27

64,95

18 083,30

37,64

Hungary

0

0

1 710,36

67,68

Germany

2 368,18

1,87

24 789,65

113,04

Greece

0,06

0,04

497,26

67,63

Denmark

6,05

0

1 216,38

67,98

Ireland

0,04

0

223,35

6,91

Spain

35 798,81

1212,97 times

3 451,48

117,66

Italy

205 004,54

115,75

17 767,53

61,07

Cyprus

1 937,09

0

17,71

27,12

Latvia

10,33

4,16

561,73

55,43

Lithuania

94,58

10,06 times

416,47

73,56

Luxemburg

2,43

255,68

304,72

426,39

Malta

5 364,86

70,32

12,92

661,13

Netherlands

2 682,59

319,27

5 606,88

190,59

Poland

651,25

269,38

3 384,21

62,52

Portugal

58 128,30

0

373,31

275,06

Romania

35,43

158,58

7 511,30

392,9

Slovakia

0

0

690,61

49,89

Slovenia

0

0

557,83

29,75

Finland

11,12

38,11

401,87

33,32

France

37 886,23

76,51

8 158,81

104,06

Croatia

0

0

107,94

503,89

Czech Republic

36 150,76

80,31

2 273,25

115,42

Sweden

0

0

1 309,59

42,54

Estonia

64,58

891,98

167,24

307,48

Other countries, total:

350 165,56

168,27

224 373,38

106,96

the Aland Islands

0

0

0,06

0

Albania

0

0

7,69

396,67

Algeria

0

0

67,41

0

Australia

6,38

0

125,5

35,26

Anguilla

0

0

14,46

0

Angola

1,85

0

0

0

Andorra

0

0

17,4

30,07

Antigua and Barbuda

0

0

9,16

0

Argentina

0

0

709,04

106,53

Aruba

4,11

53,66

0

0

Afghanistan

4 310,47

40,93

0

0

Bahama Islands

0

0

9,39

433,64

Bangladesh

0

0

484,06

210,22

Barbados

0

0

68,79

0

Bahrain

3,94

0

0

0

Bolivia

0,69

0

3,7

0

Belize

0

0

19,11

27,52

Benin

0

0

215

0

the Bermuda Islands

0,88

10,47

0

0

Bosnia and Herzegovina

0

0

36,22

1061,65 times

Botswana

0

0

0,05

3,95

Brazil

17,43

60,91

11 790,54

125,82

Brunei Darussalam

3,65

1,62

0

0

Burundi

0

0

5,42

0

Bhutan

0

0

3,79

0

Vanuatu

0

0

0,49

0

Venezuela

228,26

339,54

0

0

Virgin Islands (US)

0

0

1,4

0

Virgin Islands (UK)

0

0

127,48

23,2

Vietnam

24

945,76

1 461,50

156,57

Gabon

2,06

2,05

0

0

Haiti

0

0

1,44

14,25 times

Ghana

5,51

2,65

202,5

0

Guinea

0

0

147,96

169,06

Guatemala

0

0

12,12

341,78

Guinea-Bissau

0

0

0,49

0

Guiana

0

0

6,41

0

La Gomera

0

0

17,57

0

Honduras

0

0

13,43

493,53

Hong Kong

18,59

0

508,16

72,33 times

Greenland

0

0

47,19

90,27

Georgia

35 024,53

431,12

4 577,03

437,82

Guam

0

0

3,08

0

Jabaliya

0

0

0,71

0

Djibouti

0

0

55,27

0

Dominique

7,06

0

0,76

0

The Dominican Republic

0

0

5,35

74,67

Egypt

0,85

123,81

167,1

110,42

Zambia

0

0

0,23

0

Zimbabwe

0

0

2,83

394,04

Israel

1,22

0

2 324,40

11,84 times

India

56 128,45

172,32 times

11 819,22

429,74

Indonesia

31,47

0,09

220,08

4,32

Jordan

475,99

0

252,14

0

Iraq

2 033,45

107,54

0

0

Iran

2 147,94

63,09

13 625,31

221,48

Iceland

0

0

350,72

65,7

Cape Verde

7 778,44

0

0

0

Caicos Islands

0

0

351,9

0

Cayman Islands

0

0

27,12

125,23

Cambodia

395

0

102,97

125,87

Cameroon

0,45

23,09

3,02

0

Canada

44 031,43

0

933,53

77,06

Qatar

1,83

0

1,58

0

Congo

15,34

0

0

0

Kenya

148,18

0

29,94

172,8

Kiribati

0

0

0,04

0,26

China

3 931,63

135,75

52 829,55

216,55

Columbia

0

0

2,21

25,37 times

Korea

0

0

20,39

46,45 times

Republic of Korea

0

0

4 518,84

71,97

Costa-Rica

0

0

76,49

96,69

Côte d’Ivoire

8,9

703,69

14,41

41,17 times

Cuba

0

0

85,53

0

Kuwait

4,02

42,19

0

0

Curaçao

0

0

54,93

42,40 times

Laos

0

0

9,21

0

Lesotho

0

0

0,22

0

Liechtenstein

0

0

1,39

137,31

Lebanon

0

0

1,63

0

Libya

0

0

61,07

20,67 times

Mauritius

0

0

7,45

43,60 times

Mauritania

0

0

23,12

0

Madagascar

0

0

18,39

10,66

Macau

0

0

0,01

0

Macedonia

0

0

130,67

511,30 times

Malawi

0

0

0,01

0,02

Malaysia

66,96

117,46

1 111,92

83,28

Mali

0

0

0,13

10,81

the Maldives

0

0

3,42

314,72

Morocco

0

0

187,54

219,2

Martinique

0

0

11,32

0

Marshall Islands

0

0

2,6

13,93

Mexico

18,88

232,46

850,16

25,29

Mozambique

102

50,23 times

0,03

0,22

Monaco

0

0

0,32

0

Mongolia

0

0

46,88

0

Montenegro

16,51

435,3

0,08

17,63

Maine

23,51

29,78

0

0

Myanmar

0

0

18,51

10,65 times

Nauru

0

0

0,48

0

Nepal

44,68

67,58

24,57

0

Niger

0

0

0,07

4,65

Nigeria

3,8

0

0

0

Nicaragua

0

0

0,86

13,95 times

Niue (New Zealand )

12,18

0

0

0

New Zealand

0

0

3 551,02

330,09

Norway

8,3

95,48

2 533,26

17,97

United Arab Emirates (UAE)

740,48

84,12

618,16

7,52

Oman

1,51

0

23,7

0

Saint Helena island

0

0

4,4

0

Pakistan

202,34

622,05

363,05

128,59

Panama

0

0

0,28

0

Papua New Guinea

8,15

799,52

0

0

Paraguay

0

0

647,3

528,54

Palestine

118,95

0

37,9

82,22

Peru

0

0

7,41

46,37

Polynesia

0

0

0,07

0

Puerto Rico (USA)

0

0

0,18

2,26

Reunion

0

0

0,29

0

Rwanda

0

0

4,71

0

El Salvador

0

0

77,57

74,34 times

Somahoz

0

0

0,03

14,97

San Marino

0

0

52,37

0

Saudi Arabia

26,66

30,01

1 189,80

242,46

Swaziland

0

0

225,06

49,3

Senegal

0

0

0,32

0

Serbia

0

0

218,35

68,5

the Seychelles

0,75

0

22,05

16,7

Singapore

0,04

0,02

634,35

20,91

Syria

0

0

291,31

236,47

United States of America (USA)

30,92

200,52

23 076,51

55,99

the Solomon Islands

0

0

0,04

0

Somali

0

0

1,06

0

Sudan

0

0

10,88

0

Surinam

0

0

0,25

11,84

Sierra-Leone

19,9

0

0,37

0,33

Tanzania

0

0

151,45

191,84

Taiwan

108 388,29

6725,28 times

395,07

36,1

Thailand

0,24

0

2 549,47

131,81

Trinidad and Tobago

20,31

107,27

56,01

0

Tunisia

24 806,76

580,22 times

203,51

237,79

Turkey

62 988,02

376,95

64 547,32

148,18

Uruguay

0

0

1 134,77

516,76

Faeroe Islands

0

0

497,49

63,72

the Fiji Islands

0

0

203,21

1418,10 times

Philippines

0

0

412,85

17,21 times

Falkland Islands

0

0

109,8

0

Chad

15,31

0

0

0

Chile

0

0

15,68

9,71

Switzerland

4 018,74

14,48

1 314,96

41,38

Sri-Lanka

0

0

2 590,61

300,34

Central African Republic

0

0

23,95

0

Ecuador

0

0

2 323,30

110,52

Ethiopia

0

0

5,46

772,34

South African Republic

0

0

30,25

113,89

Jamaica

0,7

10,04 times

2 814,23

20,1

Japan

50,4

12,23

8 044,04

34,53

Others

59,22

221,39

0

0

CIS countries, total:

67 793,44

289,97

120 226,06

150,1

Belarus

2 156,75

147,72

4 184,03

111,25

Kazakhstan

1 561,82

190,07

3 601,25

79,31

Kyrgyzstan

20,31

0

72

21,15

Moldova

30,03

26,13

258,73

143,89

Uzbekistan

146,62

234,8

736,08

103,6

Russia

25 908,37

153,68

83 634,09

147,91

Tajikistan

23,96

0

0

0

Turkmenistan

3 760,91

99,34

10 357,98

495,14

Ukraine

34 184,68

124,16 times

17 381,90

145,69

source: Azerbaijani state customs committee

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