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Foreign trade of Azerbaijan (january-june 2017)

Analysis Materials 16 August 2017 11:00 (UTC +04:00)

The foreign trade turnover with 171 countries amounted to $8.68 billion in January-June 2017, or by 9.8 percent more than in the same period of 2016.

The volume of exports increased by 36.5 percent and amounted to $5.27 billion in January-June 2017 compared to January-June 2016. The volume of import decreased by 15.7 percent and reached $3.41 billion.

Azerbaijan exported 2,350 goods and imported 6,776 goods.

The black ink was estimated at $1.86 billion in January-June 2017, while red ink worth $184.55 million was observed in January-June 2016.

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

Main products exported from Azerbaijan

Products

January-June 2017

Compared to January-June 2016, %

Quantity

cost, thousand dollars

Share in export volume, %

cost

Crude oil, tons

9,707,174.36

3,839,227.70

72.87

128.79

Oil products (commodity code 2710), tons

380,224.64

145,997.81

2.77

71.70

Natural gas, 1,000 cubic meters

3,180,646.82

527,932.37

10.02

616.28

electricity, 1,000 kW / hour

584,427.36

25,098.74

0.48

400.72

Fruits and vegetables, tons

264,708.59

230,066.19

4.37

138.19

Tea, tons

874.32

4,860.45

0.09

149.88

Animal fat and vegetable oil, tons

7,333.74

8,271.31

0.16

107.45

Sugar, tons

40,315.23

26,109.80

0.50

88.90

Spirits and soft drinks, thousand dollars

-

11,266.82

0.21

116.18

Chemical products, tons

107,797.36

29,430.93

0.56

108.85

Plastic, tons

92,751.08

63,143.44

1.20

122.04

Cotton fiber, tons

17,225.66

23,551.96

0.45

750.15

Cotton yarn, tons

3,418.45

8,044.16

0.15

83.84

Ferrous metals, tons

80,459.93

38,812.46

0.74

88.20

Aluminum and aluminium products, tons

30,456.18

56,099.01

1.06

129.42

Others

-

230,836.00

4.37

121.90

Source: Azerbaijani state customs committee

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

Most of Azerbaijan’s exports as of January-June 2017 (72.87 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $3.83 billion. The cost of crude oil exports increased by 28.79 percent in January-June 2017 compared to January-June 2016. This is connected with a slight increase in the world 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-June 2017, the export of oil products from Azerbaijan decreased from year to year.

The export of oil products amounted to $145.99 million in January-June 2017, which is by 28.3 percent less than in January-June 2016.

As of 2017, 2.77 percent of the country's total export accounted for the export of oil products. A decrease in exports of oil products from the country is associated with the reconstruction of oil refineries in the country.

The positive dynamics is also observed in electricity exports in January-June 2017. Despite the share of electricity exports in Azerbaijan’s total exports was 0.48 percent, the index increased by more than fourfold compared to the same period of 2016. Thus, 584.4 million kW / h of electricity was sold to the foreign countries.

During the reporting period, the cost of export of natural gas increased by more than sixfold. Azerbaijan exported 3.18 billion cubic meters of natural gas in January-June 2017. The cost of these volumes of natural gas was $527.93 million.

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

Cotton fiber was exported in the amount of $23.55 million in January-June 2017 or by over sevenfold more than in January-June 2016.

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 11.26 million manat in January-June 2017, which is by 16.18 percent more than in January-June 2016.

The exports of aluminum and aluminum products also increased. In January-June 2017 aluminum was exported by 29.42 percent more than in January-June 2016. Some 1.06 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 38.19 percent in January-June 2017 compared to January-June 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 8.8 percent and amounted to $29.43 million in January-June 2017 compared to January-June 2016. The share of chemical products was 0.56 percent in the total volume of export in January-June 2017.

The biggest volume of export accounted for Italy in January-June 2017. Thus, during this period Azerbaijan exported goods totaling $1.21 billion to Italy which makes up 23.11 percent of a total export volume. Oil and oil products are mainly exported to this country.

Turkey ($615.48 million) and China $340.49 million) hold leading positions. Italy has maintained its leading position since 2008 excluding early three months. Turkey took a lead in January and US 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 ($661.49 million) in January-June 2017. Some 19.40 percent of the Azerbaijani imports accounted for it. Turkey ranks second - $574.24 million and China - third ($335.41 million).

Most of Azerbaijan’s imports or 21.87 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts.

The machinery and equipment worth $745.82 million were imported in January-June 2017, which is by 19.78 percent less than in January-June 2016.

The import of ferrous metals kept its consolidated positions in the country’s foreign trade. The share of these products in a total import volume of the country reached 9.76 percent in January-June 2017, while this volume was 332.72 million manat in nominal terms or by 42.39 percent less than in January-June 2016.

Vehicles and spare parts worth $221.05 million (a share in total imports – 6.48 percent) were supplied to the country. The car imports decreased by 56.52 percent in January-June 2017 compared to January-June 2016.

Some 3,483 vehicles were imported into the country in January-June 2017.

Some 2,971 cars, 416 trucks, 55 buses and 41 special vehicles were supplied. Some 2,573 vehicles, including 2,222 cars, were imported in January-June 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 69.73 percent and butter - by 18.56 percent in January-June 2017 compared to January-June 2016.

Main products imported to Azerbaijan

Products

Jan.-June 2017

Compared to Jan.-June 2016, %

Quantity

cost

(thousand dollars)

Import volume share, %

Meat, tons

23,677.25

35,515.07

1.04

256.34

Milk, tons

3,656.99

5,814.76

0.17

169.73

Butter, tons

7,767.35

32,688.14

0.96

118.56

Fruits, vegetables, tons

173,612.60

75,369.07

2.21

99.99

Tea, tons

5,423.33

21,251.35

0.62

113.83

Grain, tons

442,085.35

83,168.99

2.44

64.41

Animal fat and vegetable oil, tons

52,310.88

50,900.84

1.49

74.17

Sugar, tons

149,087.39

70,751.55

2.08

128.09

Tobacco, thousand dollars

-

72,454.25

2.12

101.57

Cement, tons

14,081.45

2,927.85

0.09

28.31

Pharmaceutical products, tons

5,278.18

86,866.16

2.55

93.54

Plastic, tons

72,168.42

128,481.24

3.77

103.37

Wood and wooden items, thousand dollars

-

89,684.29

2.63

110.67

Ferrous metals, tons

358,670.89

332,722.66

9.76

57.61

Cars, mechanisms, electric goods, equipment, thousand dollars

-

745,823.24

21.87

80.22

Vehicles and spare parts, thousand dollars

-

221,053.21

6.48

43.48

Furniture and its parts, thousand dollars

-

39,397.63

1.16

72.04

Others

-

1,066,070.13

31.26

106.93

source: Azerbaijani state customs committee

About 8,825 legal and physical entities were involved in foreign trade operations in the reporting period, including 4,412 - legal entities and 4,413 - physical entities.

The share of public sector in exports totaled $4.27 billion, private sector –$868.13 million, the share of physical entities - $129.59 million.

The share of public sector in import operations amounted to $406.39 million, the private sector –$2.8 billion, physical entities – $202.86 million.

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

Country

Export, thousand dollars

Compared to January-June 2016, %

Import, thousand dollars

Compared to January-June 2016, %

Total

5 268 749.15

136.45

3 409 673.65

84.28

Including

European countries, total:

2 476 941.85

117.09

789 276.05

71.67

Austria

72 610.87

370.91

24 839.39

57.31

Belgium

6 734.55

396.06

24 701.04

85.58

Bulgaria

77.01

46.27

6 315.73

40.79

Great Britain

3 799.61

99.10

110 847.33

43.61

Hungary

361.91

44.16

15 946.25

82.20

Germany

197 055.75

59.32

170 638.91

99.31

Greece

125 056.69

315.42 раз

2 810.96

53.68

Denmark

371.80

17.89 раз

9 972.53

103.50

Ireland

3.89

0.02

5 298.67

45.19

Spain

143 819.07

221.77

22 136.12

98.60

Italy

1 217 439.29

146.37

137 680.84

76.24

Cyprus

14 933.97

14.58 dəfə

372.95

170.73

Latvia

375.00

139.40

3 847.94

108.16

Lithuania

752.57

49.81

6 133.87

117.85

Luxemburg

19.77

146.65

1 777.38

86.69

Malta

5 364.86

15.41

21.24

162.28

Netherlands

9 826.84

34.80

42 176.65

95.39

Poland

3 331.52

191.52

25 955.15

83.36

Portugal

264 901.95

196.77

4 371.57

67.19

Romania

30 521.88

57.08

34 708.44

93.44

Slovakia

0.85

3.33

6 583.49

45.32

Slovenia

1 641.91

75.03

7 771.52

104.85

Finland

328.12

217.63

8 588.13

121.24

France

135 105.89

39.19

64 497.41

87.46

Croatia

73 682.88

147.14

684.42

1.36

Czech Republic

168 261.89

91.70

32 749.89

118.76

Sweden

220.81

72.95

16 757.81

63.46

Estonia

340.74

281.67

1 090.41

88.56

Other countries, total:

2 322 668.82

162.10

1 632 720.77

83.32

the Aland Islands

0,00

0,00

0,06

0,00

Albania

2.57

13.25

183.41

155.16

Algeria

11.71

3.84

857.69

409.68

Australia

428.21

625.55

2 352.80

58.32

Anguilla

0.00

0.00

1.78

0.00

Angola

15.25

75.34

5.21

670.84

Andorra

0,00

0,00

17,4

30,07

Antigua and Barbuda

0,00

0,00

9,16

0,00

Aomin (Macao)

0,00

0,00

0,55

0,00

Argentina

0.86

3.89

10 370.19

160.72

Aruba

4,11

53,66

0,00

0,00

Afghanistan

13 077.94

55.71

0.00

0.00

Bahama Islands

0,00

0,00

9,39

433,64

Bangladesh

1.07

0.00

4 140.60

115.17

Barbados

0.00

0.00

15.86

433.34

Bahrain

15.71

0.00

32.39

61.84

Bolivia

1.07

155.17

10.20

0.00

Belize

1 425.36

0.00

0.00

0.00

Benin

0,00

0,00

215,00

0,00

the Bermuda Islands

0,88

10,47

0,00

0,00

Bosnia and Herzegovina

0.00

0.00

452.60

336.61

Botswana

0,00

0,00

0,05

3,95

Brazil

63.29

46.21

38 562.89

55.94

Brunei Darussalam

0.77

0.00

0.00

0.00

Burundi

0,00

0,00

5,42

0,00

Bhutan

0,00

0,00

3,79

0,00

Vanuatu

0.00

0.00

1.66

0.00

Venezuela

60.45

79.51

0.00

0.00

Virgin Islands (US)

0.00

0.00

4.52

0.00

Virgin Islands (UK)

0.00

0.00

11.20

0.00

Vietnam

55 000.70

938.14

18 749.55

160.66

Gabon

2,06

2,05

0,00

0,00

Haiti

0.00

0.00

0.23

16.56

Ghana

0.18

3.24

22.39

21.91

Guyana

0,00

0,00

147,96

169,06

Guatemala

0.00

0.00

52.37

35.44

Guinea-Bissau

0.00

0.00

0.74

0.00

Guiana

0,00

0,00

6,41

0,00

La Gomera

0.00

0.00

5.55

31.60

Honduras

0.00

0.00

11.07

325.45

Hong Kong

39.76

147.16

1 254.75

232.43

Greenland

0,00

0,00

47,19

90,27

Georgia

237 530.44

157.81

32 818.20

307.99

Guam

0.00

0.00

11.35

194.20

Jabaliya

0.00

0.00

2.57

5.97

Djibouti

298.06

0.00

0.00

0.00

Dominique

0.00

0.00

0.36

0.00

The Dominican Republic

0.00

0.00

81.30

168.88

Egypt

1 074.89

479.52

3 284.00

112.92

Zambia

0.00

0.00

3.35

3.33

Zimbabwe

0.00

0.00

214.54

12.12 раз

Israel

212 354.90

89.71

16 590.44

388.07

India

173 794.64

149.23

54 579.96

210.69

Indonesia

56.26

0.07

10 501.05

58.62

Jordan

3 689.12

262.80

1 690.47

108.69

Iraq

8 206.93

98.30

0.21

1.85

Iran

9 421.74

41.54

125 105.35

189.22

Iceland

0.00

0.00

905.97

110.80

Yemen

0.00

0.00

13.93

0.00

Cape Verde

7 778,44

0,00

0,00

0,00

Caicos Islands

0.00

0.00

24.38

23.18

Cayman Islands

0,00

0,00

27,12

125,23

Cambodia

395,00

0,00

962,35

109,20

Cameroon

0,45

23,09

3,02

0

Canada

202 836.26

191.25 раз

7 400.89

81.47

Qatar

2 077.53

87.78 раз

19.33

124.52

Congo

15,34

0,00

0,00

0,00

Kenya

148.72

2874.41 раз

302.16

64.72

Kiribati

0,00

0,00

0,04

0,26

China

340 490.42

23.22 раз

335 419.68

130.97

Columbia

32.56

16.17 раз

252.20

235.51

Congo (Brazzaville)

15.34

0.00

0.07

14.75

Korea

0.00

0.00

342.98

0.00

Republic of Korea

146.13

250.87

23 621.66

58.55

Costa-Rica

0.00

0.00

404.58

64.22

Côte d’Ivoire

0.00

0.00

28.76

565.56

Cuba

0.00

0.00

111.18

181.53

Kuwait

50.31

100.41

2 027.47

126.64

Cook Islands

0.00

0.00

0.11

0.00

Curaçao

0.00

0.00

4.53

0.00

Laos

0.00

0.00

8.87

837.32

Lesotho

0.00

0.00

0.72

0.00

Liberia

29.37

0.00

2.89

0.00

Liechtenstein

0.00

0.00

13.88

71.20

Lebanon

32 787.33

82.18

579.39

204.39

Libya

0.00

0.00

1.61

0.00

Mauritius

0.00

0.00

48.77

267.59

Mauritania

0.00

0.00

29.21

140.93

Madagascar

0.00

0.00

126.15

51.83

Maiori

0.00

0.00

0.53

0.00

Macau

0.00

0.00

0.55

0.00

Macedonia

0.00

0.00

353.00

333.60

Malawi

0,00

0,00

0,01

0,02

Malaysia

313.43

30.90

10 822.06

64.45

Mali

0,00

0,00

0,13

10,81

the Maldives

0,00

0,00

3,42

314,72

Maori (New Zealand)

0,00

0,00

0,53

0,00

Morocco

0.00

0.00

1 741.23

148.23

Martinique

0,00

0,00

11,32

0,00

Marshall Islands

0,00

0,00

2,6

13,93

Mexico

62.15

33.04

5 361.92

82.16

Mozambique

3.23

3.17

5.95

203.79 раз

Monaco

0.00

0.00

4.73

11.43

Mongolia

65.15

622.68

93.48

0.00

Montenegro

0.00

0.00

9.16

0.00

Montserrat

0.00

0.00

2.30

0.00

Isle of Man

23,51

29,78

0,00

0,00

Myanmar

0.00

0.00

264.18

451.90

Namibia

0.00

0.00

0.06

0.00

Nauru

0,00

0,00

0,48

0,00

Nepal

0.00

0.00

14.41

282.74

Niger

0.00

0.00

1.65

108.59

Nigeria

315.39

741.77

21.42

111.72

Nicaragua

0.00

0.00

0.92

188.54

Niue (New Zealand )

0.00

0.00

1.67

0.00

New Zealand

96.75

118.34

22 503.96

94.90

Norway

906.30

58.71

16 630.35

14.62

United Arab Emirates (UAE)

6 558.44

107.33

8 539.15

21.27

Oman

54.89

85.88

102.59

657.52

Saint Helena island

0,00

0,00

4,4

0,00

Pakistan

807.30

140.57

3 549.08

94.07

Panama

0.00

0.00

93.61

334.86 раз

Papua New Guinea

8,15

799,52

0,00

0,00

Paraguay

0.00

0.00

161.75

52.37

Palestine

58.10

94.80

53.20

0.00

Peru

1.81

249.13 раз

152.16

50.30

Polynesia

0,00

0,00

0,07

0,00

Puerto Rico (USA)

0.00

0.00

51.60

161.05

Reunion

0,00

0,00

0,29

0,00

Rwanda

0,00

0,00

4,71

0,00

El Salvador

0.00

0.00

1.28

62.17

Somahoz

0,00

0,00

0,03

14,97

San Marino

0.00

0.00

230.77

839.42

Saudi Arabia

147.80

65.07

5 903.26

129.01

Swaziland

0.00

0.00

7.63

331.32

Senegal

0,00

0,00

0,32

0,00

St. Vincent and the Grenadines

0.00

0.00

0.06

0.00

Serbia

5.18

13.46 раз

2 418.52

101.76

the Seychelles

0.00

0.00

80.30

0.00

Singapore

183.24

31.47

8 979.92

5.06

Syria

0.00

0.00

172.80

116.95

United States of America (USA)

2 037.38

6.50

149 260.85

60.87

the Solomon Islands

0.00

0.00

0.06

0.00

Somali

0,00

0,00

1,06

0,00

Sudan

0.00

0.00

18.58

179.68

Surinam

0.00

0.00

0.25

10.00

Sierra-Leone

0.00

0.00

6.22

60.62 раз

Tanzania

0.00

0.00

165.96

50.84

Taiwan

168 666.01

55.98

7 228.02

119.05

Thailand

49 821.78

49.28

13 164.13

125.99

Tokelau

0.00

0.00

0.11

0.00

Tonga

0.00

0.00

0.02

0.00

Trinidad and Tobago

15.65

258.84

0.03

0.06

Tuvalu

0.00

0.00

0.69

0.00

Tunisia

113 542.04

195.19

1 530.20

124.93

Turkey

615 485.79

387.41

574 242.25

109.05

Uruguay

0.00

0.00

48.98

5.28

Faeroe Islands

0.00

0.00

126.05

25.34

the Fiji Islands

0.00

0.00

0.90

0.44

Philippines

0.30

0.00

970.79

158.06

Falkland Islands

0,00

0,00

109,8

0,00

Chad

13.50

0.00

0.95

0.00

Chile

0.00

0.00

734.47

26.17

Switzerland

66 825.37

107.08

17 707.33

46.06

Sri-Lanka

0.00

0.00

19 820.20

110.03

Central African Republic

0.00

0.00

3.94

78.82

Ecuador

0.00

0.00

11 917.34

130.50

Ethiopia

0.00

0.00

190.64

716.40

South African Republic

0.00

0.00

3 378.46

145.36

Jamaica

0.00

0.00

1.34

0.05

Japan

435.78

44.25

49 147.12

29.64

Others

665.23

223.65

0.00

0.00

CIS countries, total:

469 138.48

149.93

987 676.83

100.26

Belarus

6 601.53

65.36

59 742.01

157.13

Kazakhstan

13 731.92

179.32

60 724.78

95.11

Kyrgyzstan

146.59

3.31

491.86

63.18

Moldova

60.93

16.17

2 678.43

155.10

Uzbekistan

1 317.51

156.03

5 891.95

229.84

Russia

289 825.46

151.94

661 494.81

89.05

Tajikistan

456.54

8.83

0.32

0.21

Turkmenistan

33 327.39

43.24

34 778.06

247.54

Ukraine

123 670.61

749.13

161 874.61

133.61

source: Azerbaijani state customs committee

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