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Foreign trade of Azerbaijan (January-April 2017)

Analysis Materials 14 June 2017 17:38 (UTC +04:00)

The foreign trade turnover with 157 world countries amounted to $5.6 billion in January-April 2017, or by 11.35 percent more than in the same period of 2016.

The volume of exports increased by 41.1 percent and amounted to $3.43 billion in January-April 2017 compared to January-April 2016. The volume of import decreased by 16.5 percent and reached $2.16 billion.

Azerbaijan exported 1,921 goods and imported 6,298 different goods.

The black ink of foreign trade balance was estimated at $1.27 billion in January-April 2017, while a trade deficit worth $144.37 million was observed in January-April 2016.

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

Main products exported from Azerbaijan

Products

Jan.-April 2017

Compared to Jan.-April 2016, %

Quantity

cost, thousand dollars

Share in export volume, %

cost

Crude oil

6 493 465,03

2 616 375,82

76,26

138,76

Oil products

306 583,65

118 817,08

3,46

94,89

Natural gas, thousand cubic meters

1 705 122,52

276 201,42

8,05

330,42

electricity, thousand kW / hour

387 406,45

16 535,10

0,48

827,07

Fruits and vegetables, tons

85 736,11

87 290,94

2,54

126,7

Tea, tons

510,97

2 864,98

0,08

124,77

Animal fat and vegetable oil, tons

4 459,92

5 077,41

0,15

107,43

Sugar, tons

20 955,46

13 620,61

0,4

107,33

Spirits and soft drinks, thousand dollars

-

7 594,13

0,22

132,17

Chemical products, tons

44 140,47

14 434,32

0,42

182,28

Plastic, tons

58 867,27

43 123,77

1,26

124,95

Cotton fiber, tons

14 714,59

20 309,61

0,59

733,37

Cotton yarn, tons

2 047,35

4 800,86

0,14

78,46

Ferrous metals, tons

45 460,92

21 804,40

0,64

70,84

Aluminium and aluminium products, tons

21 582,94

38 697,58

1,13

137,17

Others

-

143 154,18

4,18

109,82

Source: Azerbaijani state customs committee

Growth was observed in almost all main types of products exported from Azerbaijan in January-April 2017.

Most of Azerbaijan’s exports as of January-April 2017 (76.26 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $2.62 billion. The cost of crude oil exports increased by 38.76 percent in January-April 2017 compared to January-April 2016. 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-April 2017, the export of oil products from Azerbaijan decreased from year to year.

The export of oil products amounted to $118.81 million in January-April 2017, which is by 5.11 percent less than in January-April 2016.

Some 3.46 percent of the country’s total export volume accounted for the export of oil products as of 2017.

The positive dynamics is also observed in the volume of electricity exports in January-April 2017. Despite the share of electricity exports in Azerbaijan’s total exports was 0.48 percent, the indicator increased by more than eight times compared to the same period of 2016. Thus, 387,406,450 kW / h of electricity was sold to foreign countries.

The state measures of increasing the cotton production in the country have yielded results.

Cotton fiber was exported in the amount of $20.31 million in January-April 2017 or by over sevenfold more than in January-April 2016.

During the reporting period, the export of natural gas increased by 2.72 times, the cost - by 3.3 times. Azerbaijan exported 1.70 billion cubic meters of natural gas in January-April 2017. The cost of these volumes of natural gas was $276.20 million.

Some 627.25 million cubic meters of gas worth $83.59 million were exported in January-April 2016. The share of natural gas was 8.05 percent of the total volume of exports for this period.

An 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, especially wines, under ‘Made in Azerbaijan’ brand to the foreign markets.

So, the country exported alcoholic and non-alcoholic beverages worth 7.59 million manat in January-April 2017, which is by 32.17 percent more than in January-April 2016.

The exports of aluminum and aluminum products also increased. In January-April 2017 aluminum was exported by 37.17 percent more than in January-April 2016. Some 1.13 percent of total export accounted for aluminum.

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

The exports of Azerbaijani agricultural products increased by 26.7 percent in January-April 2017 compared to January-April 2016.

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

Agrarian products were exported to Russia, as well as to other countries, for example, Ukraine and Kazakhstan.

The export of Azerbaijani chemical products has also increased since early 2017. So, export of chemical products increased by 82.28 percent and amounted to $14.34 million in January-April 2017 compared to January-April 2016. The share of chemical products was 0.37 percent in the total volume of export in January-April 2017.

The biggest volume of export accounted for Italy in January-April 2017. Thus, during this period Azerbaijan exported goods totaling $797.06 million to Italy which makes up 23.23 percent of a total export volume. Oil and oil products are mainly exported to this country.

Turkey ($370.87 million) and China $183.79 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.

Italy and Azerbaijan have excellent bilateral and economic ties. Italy has remained the main trading partner of Azerbaijan, the fourth exporter and the first energy consumer for eight years. As for other sectors, Italy is also represented well in the metallurgical sector of Azerbaijan. The recent agreement signed between Danieli and Baku Steel Company testifies to it. Italian products are valued in Azerbaijan and it concerns not only fashion, furniture, food but also the products in such sectors as mechanics, engineering and technology.

Russia ranks first on the biggest import volume ($406.36 million) in January-April 2017. Some 18.77 percent of the Azerbaijani imports accounted for it. Turkey ranks second - $358.87 million and China - third ($211.76 million).

Most of Azerbaijan’s imports or 21.04 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $455.62 million were imported in January-April 2017, which is by 27.66 percent less than in January-April 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 9.97 percent in January-April 2017, while this volume was 215.93 million manat in nominal terms or by 45.59 percent less than in January-April 2016.

Vehicles and spare parts worth $136.88 million (a share in total imports – 6.32 percent) were supplied to the country. The car imports decreased by 57.65 percent in January-April 2017 compared to January-April 2016.

Some 1,943 vehicles (469 cars in January, 534 cars in February, 428 cars in March and 512 cars in April) were imported into the country in January-March 2017.

Some 1,620 passenger cars (420, 432, 333 and 435 accordingly), 268 trucks, 26 buses and 29 special vehicles were imported. Some 1,742 vehicles, including 1,509 passenger cars were imported in January-April 2016.

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

In particular, the cost of imports of meat increased by over twofold, milk – by 98.3 percent and butter - by 3.04 in January-April 2017 compared to January-April 2016.

Main products imported to Azerbaijan

Products

Jan.-April 2017

Compared to Jan.-April 2016, %

Quantity

cost

(thousand dollars)

Import volume share, %

Meat, tons

14 966,96

21 177,14

0,98

257,44

Milk, tons

2 635,30

4 198,41

0,19

198,29

Butter, tons

5 276,02

20 269,29

0,94

103,04

Fruits, vegetables, tons

141 554,81

56 480,15

2,61

97,28

Tea, tons

3 545,48

14 002,87

0,65

122,91

Grain, tons

261 394,62

48 461,91

2,24

51,88

Animal fat and vegetable oil, tons

37 123,53

36 294,76

1,68

86,96

Sugar, tons

102 428,18

48 101,41

2,22

110,45

Tobacco, thousand dollars

-

45 075,39

2,08

111,83

Cement, tons

7 150,90

1 309,39

0,06

26,97

Pharmaceutical products, tons

3 381,80

55 440,47

2,56

99,91

Plastic, tons

41 238,34

75 878,98

3,5

105,69

Wood and wooden items, thousand dollars

-

52 381,77

2,42

115,37

Ferrous metals, tons

223 460,14

215 931,10

9,97

54,41

Cars, mechanisms, electric goods, equipment, thousand dollars

-

455 621,22

21,04

72,34

Vehicles and spare parts, thousand dollars

-

136 886,44

6,32

42,35

Furniture and its parts, thousand dollars

-

25 159,01

1,16

70,74

Others

-

688 464,38

31,82

116,62

source: Azerbaijani state customs committee

According to the Azerbaijani State Customs Committee, non-EU and non-CIS countries formed the foreign trade turnover of Azerbaijan at 46.8 percent or by $2.62 billion, while the EU countries - at 38 percent ($2.126 billion). Some 15.2 percent or $0.85 billion accounted for the CIS.

The export of Azerbaijani goods to the EU countries amounted to $1.615 billion in January-April 2017, which is 47.09 percent of a total export volume amid 1.21 times growth.

The import from EU by Azerbaijan decreased by 29.9 percent ($0.510 billion) and amounted to 23.56 percent of a total import volume. As a result, Azerbaijan had a black ink of trade balance with the EU at the level of $1.105 billion, which is slightly less than the country's total trade surplus ($1.266 billion).

The exports to the non-EU and non-CIS countries increased by 1.7 times up to $1.584 billion in January-April 2017 or 46.19 percent of a total export volume, while imports decreased by 22.87 percent and reached $1.035 billion or 47.82 percent of the total import volume. As a result, the black ink worth $0.549 billion was observed in Azerbaijan’s trade relations with these countries.

The exports to the CIS countries for the reporting period totaled $0.231 billion (6.72 percent of the total export volume) by increasing by 1.41 times, and imports - $0.620 billion (28.62 percent) by increasing by 1.18 times. As a result, the country had a red ink worth $0.389 billion in trading with the CIS countries.

During this period, about 6,720 legal and physical entities were involved in foreign trade operations, including 3,717 - legal entities and 3,003 - physical entities.

The share of public sector in exports totaled $2.89 billion, private sector –$484.43 million, the share of physical entities - $54.73 million.

The share of public sector in import operations amounted to $271.52 million, the private sector –$1.77 billion, physical entities – $125.5 million.

Azerbaijan’s trade operations with foreign countries in January-April 2017

Country

Export, thousand dollars

Compared to January-April 2016, %

Import, thousand dollars

Compared to January-April 2016, %

Total

3 430 702,21

141,11

2 164 997,72

83,47

Including

European countries, total:

1 615 430,35

120,9

510 096,01

70,14

Austria

37 598,84

193,42

18 004,08

84,81

Belgium

3 977,35

312,68

18 293,11

83,66

Bulgaria

70,06

50,4

4 209,80

112,42

Great Britain

2 292,62

119,78

80 376,37

48,18

Hungary

300,12

36,71

9 521,30

104,82

Germany

152 647,23

60,85

108 102,77

103,51

Greece

65 578,10

174,44 times

1 550,26

41,31

Denmark

353,35

24,12 times

6 402,46

107,99

Ireland

1,17

0

3 701,04

38,52

Spain

73 251,96

115,09

14 512,15

91,25

Italy

797 067,35

179,73

82 132,06

66,2

Cyprus

13 271,39

12,95 times

268,1

174,28

Latvia

311,86

125,47

2 761,42

105,17

Lithuania

374,77

43,62

3 804,87

123,37

Luxemburg

12,4

164,12

1 119,54

71,52

Malta

5 364,86

23,54

19,3

258,99

Netherlands

7 533,40

33,01

25 574,26

91,08

Poland

2 055,30

165,7

16 146,81

82,79

Portugal

179 726,46

288,64

2 672,90

49,62

Romania

28 584,51

11,77 times

23 596,33

78,71

Slovakia

0,85

8,95

2 432,42

24,23

Slovenia

0

0

4 145,17

82,18

Finland

209,12

223,77

3 111,65

66,78

France

99 354,99

36,96

39 132,83

83,74

Croatia

73 682,41

371,2

501,01

1

Czech Republic

71 299,00

55,72

9 644,80

68,55

Sweden

71,48

33,96

12 722,79

90,88

Estonia

195,56

272,69

861,97

134,75

Other countries, total:

1 584 583,11

170,03

1 035 329,45

77,13

the Aland Islands

0

0

0,06

0

Albania

2,57

0

166,23

182,53

Algeria

4,87

3,78

314,42

503,07

Australia

374,61

967,72

1 686,74

67,28

Anguilla

0

0

14,46

0

Angola

14,57

73,54

5,21

670,84

Andorra

0

0

17,4

30,07

Antigua and Barbuda

0

0

9,16

0

Aomin (Macao)

0

0

0,55

0

Argentina

0,86

4,66

5 491,77

126,36

Aruba

4,11

53,66

0

0

Afghanistan

9 812,17

50,64

0

0

Bahama Islands

0

0

9,39

433,64

Bangladesh

0

0

2 698,59

118,36

Barbados

0

0

15,86

64,09 times

Bahrain

15,71

0

15,12

158,4

Bolivia

0,69

0

3,7

0

Belize

1 149,84

0

0

0

Benin

0

0

215

0

the Bermuda Islands

0,88

10,47

0

0

Bosnia and Herzegovina

0

0

384,67

406,12

Botswana

0

0

0,05

3,95

Brazil

23,65

24,61

33 372,78

60,14

Brunei Darussalam

0,56

0

0

0

Burundi

0

0

5,42

0

Bhutan

0

0

3,79

0

Vanuatu

0

0

1,66

0

Venezuela

60,45

81,38

0

0

Virgin Islands (US)

0

0

3,75

0

Virgin Islands (UK)

0

0

127,48

23,2

Vietnam

96

624,74

9 478,80

137,66

Gabon

2,06

2,05

0

0

Haiti

0

0

1,44

14,25 times

Ghana

0,18

3,24

22,39

21,91

Guyana

0

0

147,96

169,06

Guatemala

0

0

35,44

46,06

Guinea-Bissau

0

0

0,49

0

Guiana

0

0

6,41

0

La Gomera

0

0

17,57

0

Honduras

0

0

3,88

200,13

Hong Kong

36,99

144,82

713,31

167,53

Greenland

0

0

47,19

90,27

Georgia

146 901,66

125,47

23 851,77

367,12

Guam

0

0

6,39

0

Jabaliya

0

0

2,57

15,29

Djibouti

135,47

0

0

0

Dominique

0

0

0,36

0

The Dominican Republic

0

0

35,99

111,24

Egypt

412,93

293,82

1 929,27

136,39

Zambia

0

0

3,33

10,13 times

Zimbabwe

0

0

208,11

12,54 times

Israel

177 137,30

130,7

8 038,85

262,03

India

116 866,11

174,43

36 180,80

227,41

Indonesia

51,98

0,14

9 588,76

57,29

Jordan

3 216,55

322,04

1 118,29

92,54

Iraq

6 076,07

118,06

0,21

1,91

Iran

7 075,55

38,59

70 826,64

186,17

Iceland

0

0

806,98

104,98

Yemen

0

0

13,93

0

Cape Verde

7 778,44

0

0

0

Caicos Islands

0

0

24,38

23,19

Cayman Islands

0

0

27,12

125,23

Cambodia

395

0

834,65

112,01

Cameroon

0,45

23,09

3,02

0

Canada

151 476,58

148,24 times

5 674,33

107,89

Qatar

532,68

177,57 times

19,01

194,43

Congo

15,34

0

0

0

Kenya

148,18

2863,86 times

212,28

58,37

Kiribati

0

0

0,04

0,26

China

183 790,06

14,67 times

211 765,94

133,74

Columbia

0,96

47,53

216,04

266,17

Congo (Brazzaville)

15,34

0

0

0

Korea

0

0

16,01

0

Republic of Korea

39,28

68,21

16 476,90

54,83

Costa-Rica

0

0

297,12

80,62

Côte d’Ivoire

0

0

20

503,2

Cuba

0

0

86,94

141,95

Kuwait

50,21

233,64

1 441,91

143,32

Curaçao

0

0

4,53

0

Laos

0

0

7,16

729,9

Lesotho

0

0

0,22

0

Liberia

29,37

0

0

0

Liechtenstein

0

0

3,26

17,46

Lebanon

32 787,19

101,5

553,24

391,51

Libya

0

0

61,07

20,67 times

Mauritius

0

0

40,04

749,27

Mauritania

0

0

27,28

225,26

Madagascar

0

0

112,6

55,26

Maiori

0

0

0,53

0

Macau

0

0

0,01

0

Macedonia

0

0

285,5

610,3

Malawi

0

0

0,01

0,02

Malaysia

152,53

87,98

5 243,29

87,96

Mali

0

0

0,13

10,81

the Maldives

0

0

3,42

314,72

Maori (New Zealand)

0

0

0,53

0

Morocco

0

0

1 283,45

163,37

Martinique

0

0

11,32

0

Marshall Islands

0

0

2,6

13,93

Mexico

28,87

16,7

4 102,12

83,45

Mozambique

0

0

0,75

0

Monaco

0

0

4,73

11,53

Mongolia

65,15

0

93,48

0

Montenegro

0

0

9,16

0

Montserrat

0

0

0,3

0

Isle of Man

23,51

29,78

0

0

Myanmar

0

0

191,57

491,42

Namibia

0

0

0,06

0

Nauru

0

0

0,48

0

Nepal

44,68

67,58

24,57

0

Niger

0

0

1,49

97,53

Nigeria

3,8

9,07

19,03

210,93

Nicaragua

0

0

0,23

57,65

Niue (New Zealand )

12,18

0

0

0

New Zealand

72,75

88,98

14 585,24

85,02

Norway

745,41

68,71

11 150,34

11,9

United Arab Emirates (UAE)

2 512,51

101,54

5 011,59

16,95

Oman

11,89

32,62

57,15

0

Saint Helena island

0

0

4,4

0

Pakistan

716,6

241,68

2 895,51

114,66

Panama

0

0

58,97

210,93 times

Papua New Guinea

8,15

799,52

0

0

Paraguay

0

0

84,94

34,99

Palestine

58,1

0

16,2

0

Peru

1,81

0

47,76

38,4

Polynesia

0

0

0,07

0

Puerto Rico (USA)

0

0

48,34

366,04

Reunion

0

0

0,29

0

Rwanda

0

0

4,71

0

El Salvador

0

0

0,01

0,49

Somahoz

0

0

0,03

14,97

San Marino

0

0

132,42

570,68

Saudi Arabia

84,31

53,36

4 261,89

139,79

Swaziland

0

0

6,43

69,62 times

Senegal

0

0

0,32

0

St. Vincent and the Grenadines

0

0

0,06

0

Serbia

5,18

13,46 times

1 492,07

92,08

the Seychelles

0,75

0

22,05

16,7

Singapore

140,11

34,12

7 598,60

4,38

Syria

0

0

81,17

227,8

United States of America (USA)

1 546,92

4,99

95 981,57

58,43

the Solomon Islands

0

0

0,06

0

Somali

0

0

1,06

0

Sudan

0

0

0,63

39,94

Surinam

0

0

0,25

11,84

Sierra-Leone

0

0

0,25

0

Tanzania

0

0

163,68

69,97

Taiwan

168 598,77

84,49

4 487,66

131,74

Thailand

49 818,93

49,31

6 978,88

103,83

Tonga

0

0

0,02

0

Trinidad and Tobago

15,65

258,84

0,03

0,06

Tuvalu

0

0

0,69

0

Tunisia

113 542,04

697,44

1 077,47

168,78

Turkey

370 879,27

434,81

358 876,27

118,26

Uruguay

0

0

3,29

0,36

Faeroe Islands

0

0

497,49

63,72

the Fiji Islands

0

0

203,21

1418,10 times

Philippines

0

0

706,02

183,77

Falkland Islands

0

0

109,8

0

Chad

9,97

0

0,95

0

Chile

0

0

383,83

15,73

Switzerland

36 017,71

78,12

11 603,70

42

Sri-Lanka

0

0

13 179,43

122,5

Central African Republic

0

0

3,94

83,47 times

Ecuador

0

0

8 682,84

130,82

Ethiopia

0

0

92,27

481,44

South African Republic

0

0

838,97

141,33

Jamaica

0

0

1,34

0,05

Japan

435,77

50,37

28 643,52

22,96

Others

387,56

258,26

0

0

CIS countries, total:

230 688,75

141,38

619 572,26

118,17

Belarus

4 758,76

84,65

26 131,20

160,54

Kazakhstan

8 192,35

174,05

53 302,20

103,14

Kyrgyzstan

92,53

9,77

337,67

50,15

Moldova

46,73

12,4

1 759,85

187,53

Uzbekistan

741,07

193,02

3 384,09

220,26

Russia

118 325,02

152,57

406 360,58

104,94

Tajikistan

247,58

24,08

0

0

Turkmenistan

17 554,47

26,64

29 913,62

604,56

Ukraine

80 730,26

12,13 times

98 383,07

161,19

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