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Foreign trade of Azerbaijan (January-July 2017)

Analysis Materials 13 September 2017 14:16 (UTC +04:00)

The foreign trade turnover with 176 countries amounted to $10.52 billion in January-July 2017, or by 6.9 percent less than in the same period of 2016.

The volume of exports decreased by 6.03 percent and amounted to $6.15 billion in January-July 2017 compared to January-July 2016. The volume of import reached $4.37 billion in January-July 2017 which is by 6.93 percent less than in January-July 2016.

Azerbaijan exported 2,560 goods and imported 6,922 different goods.

The black ink of foreign trade balance was estimated at $1.78 billion in January-July 2017, while a trade deficit worth $167.47 million was observed in January-July 2016.

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

Main products exported from Azerbaijan

Products

Jan.-July 2017

Jan.-July 2016, %

Quantity

cost, $1,000

Share in export volume, %

cost

Crude oil, tons

11,413,914.91

4,429,770.85

72.00

79.91

Oil products (2710 by commodity code), tons

476,346.04

178,428.92

2.90

81.71

Natural gas, 1,000 cubic meters

3,831,705.70

669,181.87

10.88

585.71

electricity, 1,000 kW / hour

597,698.66

25,915.00

0.42

315.19

Fruits and vegetables, tons

287,842.93

253,659.81

4.12

142.40

Tea, tons

978.27

5,517.63

0.09

160.80

Animal fat and vegetable oil, tons

8,512.09

9,447.37

0.15

111.62

Sugar, tons

46,054.77

30,048.79

0.49

86.71

Spirits and soft drinks, $1,000

-

14,423.09

0.23

126.16

Chemical products, tons

159,251.97

40,149.16

0.65

129.60

Plastic, tons

99,328.74

69,535.39

1.13

112.15

Cotton fiber, tons

19,002.01

25,975.73

0.42

827.35

Cotton yarn, tons

4,036.37

9,441.25

0.15

82.43

Ferrous metals, tons

106,026.13

49,191.68

0.80

98.31

Aluminum and aluminium products, tons

35,816.00

67,215.44

1.09

128.55

Others

-

274,460.06

4.48

126.66

Source: Azerbaijani state customs committee

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

Most of Azerbaijan’s exports as of January-July 2017 (72.00 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $4.42 billion.

The volume of export of crude oil in value terms decreased by 20.09 percent in January-July 2017 compared to January-July 2016, which is connected with a slight increase in 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-July 2017, the export of oil products from Azerbaijan decreased from year to year.

The export of oil products amounted to $178.42 million in January-July 2017, which is by 18.29 percent less than in January-July 2016.

Some 2.90 percent of the country’s total export volume accounted for the export of oil products as of January-July 2017.

Reduction of exports of oil products is associated with the reconstruction of oil refineries in the country.

The positive dynamics is also observed in the volume of electricity exports in January-July 2017. Despite the share of electricity exports in Azerbaijan’s total exports was 0.42 percent, the figure increased by more than three times compared to the same period of 2016. Thus, 596.69 kW / h of electricity was sold to foreign countries.

During the reporting period, the export of natural gas increased by more than six times in value terms. Azerbaijan exported 3.83 billion cubic meters of natural gas in January-July 2017. The cost of these volumes of natural gas was $669.18 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.

The state measures for the cotton-growing development in the country have yielded results.

Cotton fiber was exported in the amount of $25.97 million in January-July 2017 or by over eightfold more than in January-July 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 14.42 million manat in January-July 2017, which is by 26.16 percent more than in January-July 2016.

The exports of aluminum and aluminum products also increased. In January-July 2017 aluminum was exported by 28.55 percent more than in January-July 2016. Some 1.09 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 42.40 percent in January-July 2017 compared to January-July 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 29.60 percent and amounted to $40.14 million in January-July 2017 compared to January-July 2016. The share of chemical products was 0.65 percent in the total volume of export in January-July 2017.

The biggest volume of export accounted for Italy in January-July 2017. Thus, during this period Azerbaijan exported goods totaling $1.38 billion to Italy which makes up 22.57 percent of a total export volume. Oil and oil products are mainly exported to this country.

Turkey ($766.50 million) and China $340.64 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 in the biggest import volume ($785.95 million) in January-July 2017. Some 17.99 percent of the Azerbaijani imports accounted for it. Turkey ranks second - $688.18 million and China - third ($435.29 million.

Most of Azerbaijan’s imports or 21.82 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $953.67 million were imported in January-July 2017, which is by 14.36 percent less than in January-July 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 9.49 percent in January-July 2017, while this volume was 414.53 million manat in nominal terms or by 38.81 percent less than in January-July 2016.

Vehicles and spare parts worth $475.66 million (a share in total imports – 10.89 percent) were supplied to the country. The car imports decreased by 10.98 percent in January-July 2017 compared to January-July 2016.

Some 4,468 vehicles were imported into the country in January-July 2017 compared to 2,879 cars in January-July 2016.

Of the total number of vehicles imported for seven months of the current year, 3,791 account for motor vehicles.

Some 2,475 vehicles and motor vehicles were imported in January-July 2016.

Moreover, 519 trucks were imported to Azerbaijan in January-July 2017 (300 trucks in January-July 2016). The rest of the imports accounted for other types of vehicles.

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 57.49 percent and butter - by 28.78 percent in January-July 2017 compared to January-July 2016.

Main products imported to Azerbaijan

Products

Jan.-July 2017

Compared to Jan.-July 2016, %

Quantity

cost

($1,000)

Import volume share, %

Meat, tons

26,044.09

39,397.50

0.90

223.19

Milk, tons

4,252.21

6,683.74

0.15

157.49

Butter, tons

9,209.34

40,363.87

0.92

128.78

Fruits, vegetables, tons

180,012.88

81,203.88

1.86

99.92

Tea, tons

7,052.42

27,217.70

0.62

117.67

Grain, tons

512,200.86

96,220.84

2.20

64.60

Animal fat and vegetable oil, tons

69,367.26

67,134.38

1.54

85.63

Sugar, tons

212,174.95

99,112.33

2.27

128.41

Tobacco, $1,000

-

87,960.43

2.01

98.59

Cement, tons

17,481.63

3,871.56

0.09

33.44

Pharmaceutical products, tons

6,119.24

99,368.91

2.27

90.80

Plastic, tons

89,910.71

158,766.88

3.63

105.26

Wood and wooden items, $1,000

-

111,286.26

2.55

110.92

Ferrous metals, tons

434,659.92

414,539.50

9.49

61.19

Cars, mechanisms, electric goods, equipment, $1,000

-

953,679.96

21.82

85.64

Vehicles and spare parts, $1,000

-

475,661.40

10.89

89.02

Furniture and its parts, $1,000

-

46,433.37

1.06

74.28

Others

-

1,269,556.99

29.06

105.19

source: Azerbaijani state customs committee

During this period, about 9,865 legal and physical entities were involved in foreign trade operations, including 4,720 - legal entities and 5,145 - physical entities.

The share of public sector in exports totaled $4.93 billion, private sector –$1.08 billion, the share of physical entities - $137.57 million.

The share of public sector in import operations amounted to $491.29 million, the private sector –$3.64 billion, physical entities – $237.7 million.

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

Country

Export, $1,000

Compared to January-July 2016, %

Import, $1,000

Compared to January-July 2016, %

Total

6 152 362.04

93.97

4 369 692.31

91.83

Including

European countries, total:

2 839 402.42

69.47

950 121.52

70.95

Austria

97 692.45

214.64

28 600.62

60.22

Belgium

7 027.68

220.60

29 348.58

85.05

Bulgaria

95.72

57.51

8 883.49

54.52

Great Britain

4 939.81

6.38

132 201.60

40.64

Hungary

379.46

45.66

19 743.98

82.45

Germany

229 271.95

62.87

201 680.11

94.93

Greece

125 082.45

275.85

4 766.96

59.81

Denmark

445.59

12.92 times

11 253.05

92.32

Ireland

4.69

0.02

6 715.61

50.80

Spain

143 834.37

46.71

28 443.80

107.79

Italy

1 388 784.12

63.01

164 802.42

78.82

Cyprus

25 690.60

25.04 times

567.51

160.10

Latvia

1 458.14

537.62

4 426.70

108.07

Lithuania

975.72

62.52

9 467.56

155.31

Luxemburg

93.28

407.30

2 134.22

93.54

Malta

36 860.47

62.93

25.20

82.41

Netherlands

10 678.67

37.01

52 758.61

106.98

Poland

3 955.48

181.90

33 104.55

83.83

Portugal

264 913.20

165.01

5 951.75

75.29

Romania

56 637.54

105.92

43 331.00

96.60

Slovakia

60.50

203.46

9 798.20

63.63

Slovenia

4 275.17

195.36

8 774.50

99.37

Finland

346.38

216.61

10 051.45

127.66

France

135 183.63

33.38

73 715.50

88.50

Croatia

73 686.96

63.21

793.61

1.57

Czech Republic

226 252.56

123.01

39 088.24

127.18

Sweden

372.03

122.90

18 306.53

31.64

Estonia

403.82

318.04

1 386.16

99.48

Other countries, total:

2 790 138.22

132.21

2 249 194.72

98.38

the Aland Islands

0,00

0,00

0,06

0,00

Albania

15.52

80.06

198.71

154.57

Algeria

13.47

4.25

919.92

371.26

Australia

451.78

554.04

2 465.86

58.78

Anguilla

0.00

0.00

2.22

0.00

Angola

16.22

11.33

5.21

60.58

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

16.86

45.60

10 977.44

151.48

Aruba

3.14

0.00

0.00

0.00

Afghanistan

13 372.83

56.66

0.00

0.00

Bahama Islands

0,00

0,00

9,39

433,64

Bangladesh

1.07

535.00

5 075.65

119.11

Barbados

0.00

0.00

15.86

433.34

Bahrain

18.95

318.72

74.26

141.79

Bolivia

1.28

184.65

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

533.42

370.03

Botswana

0,00

0,00

0,05

3,95

Brazil

63.29

46.12

55 904.71

60.49

Brunei Darussalam

4.15

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

56.72

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

55 033.82

936.79

21 786.34

152.83

Gabon

2,06

2,05

0,00

0,00

Haiti

0.00

0.00

0.23

15.60

Ghana

0.18

3.24

23.02

22.50

Guyana

0,00

0,00

147,96

169,06

Guatemala

0.00

0.00

54.24

36.57

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

47.41

162.29

1 287.40

194.21

Greenland

0,00

0,00

47,19

90,27

Georgia

284 503.60

146.70

40 194.37

280.10

Guam

0.00

0.00

11.46

189.85

Jabaliya

0.00

0.00

2.57

5.92

Djibouti

298.06

0.00

0.00

0.00

Dominique

0.00

0.00

1.15

0.00

The Dominican Republic

0.00

0.00

88.46

169.59

Egypt

1 164.79

519.63

3 744.57

118.39

Zambia

0.00

0.00

3.38

3.36

Zimbabwe

0.00

0.00

215.19

11.17 times

Israel

245 190.92

91.00

18 816.50

272.03

India

223 418.61

81.10

60 308.49

208.38

Indonesia

56.26

0.07

10 501.05

58.62

Jordan

3 690.94

222.78

2 042.45

131.33

Iraq

8 866.80

92.43

0.21

1.85

Iran

9 831.89

35.86

139 087.40

179.82

Iceland

0.00

0.00

907.20

110.95

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

34.00

32.33

Cayman Islands

0,00

0,00

27,12

125,23

Cambodia

395.00

0.00

1 276.36

104.44

Cameroon

1.46

0.00

0.35

28.80

Canada

202 909.89

547.47

8 478.41

85.14

Qatar

2 393.03

57.97 times

19.33

57.27

Congo

15,34

0,00

0,00

0,00

Kenya

148.72

2874.41 times

375.90

67.48

Kiribati

0,00

0,00

0,04

0,26

China

340 641.30

521.13

435 296.00

134.59

Columbia

64.93

22.77 times

256.96

228.96

Congo (Brazzaville)

15.34

0.00

0.07

14.75

Korea

0.00

0.00

358.65

24.29 times

Republic of Korea

157.52

266.49

37 914.96

86.63

Costa-Rica

0.00

0.00

470.35

67.93

Côte d’Ivoire

0.00

0.00

29.75

585.03

Cuba

0.01

0.00

111.18

181.53

Kuwait

52.32

86.71

2 980.31

160.72

Cook Islands

0.00

0.00

0.11

0.00

Curaçao

0.00

0.00

4.53

21.22

Laos

0.00

0.00

8.87

837.32

Lesotho

0.00

0.00

2.24

0.00

Liberia

29.37

0.00

2.89

0.00

Liechtenstein

0.00

0.00

14.24

73.01

Lebanon

32 787.33

76.85

592.57

198.79

Libya

0.00

0.00

1.61

0.00

Mauritius

0.00

0.00

58.00

205.85

Mauritania

0.00

0.00

29.28

135.52

Madagascar

0.00

0.00

137.68

55.25

Maiori

0.00

0.00

0.53

0.00

Macau

0.00

0.00

0.55

0.00

Macedonia

0.00

0.00

406.76

370.93

Malawi

0.00

0.00

0.10

0.00

Malaysia

3 579.03

9.11

12 247.37

66.69

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

2.75

0.00

2 094.66

146.44

Martinique

0,00

0,00

11,32

0,00

Marshall Islands

0,00

0,00

2,6

13,93

Mexico

62.15

33.04

6 143.78

51.48

Mozambique

3.23

3.17

5.95

203.79 times

Monaco

0.15

0.00

4.81

11.62

Mongolia

65.15

622.68

93.48

0.00

Montenegro

24.27

0.00

9.16

0.00

Montserrat

0.00

0.00

2.30

0.00

Isle of Man

63.23

0.00

0.00

0.00

Myanmar

0.00

0.00

290.66

396.90

Namibia

0.00

0.00

0.06

0.00

Nauru

0,00

0,00

0,48

0,00

Nepal

0.00

0.00

23.94

469.83

Niger

0.00

0.00

1.65

74.05

Nigeria

316.27

731.42

21.42

111.72

Nicaragua

0.00

0.00

0.94

192.66

Niue (New Zealand )

0.00

0.00

1.67

0.00

New Zealand

96.75

117.39

28 506.61

106.01

Norway

939.18

53.52

67 547.45

52.15

United Arab Emirates (UAE)

7 753.74

118.90

9 284.82

21.28

Oman

56.36

76.08

144.49

598.35

Saint Helena island

0,00

0,00

4,4

0,00

Pakistan

1 440.62

219.06

4 485.13

111.63

Panama

0.00

0.00

93.61

334.86 times

Papua New Guinea

0.00

0.00

0.18

0.00

Paraguay

0.00

0.00

437.82

136.43

Palestine

58.10

94.80

53.20

0.00

Peru

1.81

18.54

160.37

50.29

Polynesia

0,00

0,00

0,07

0,00

Puerto Rico (USA)

0.00

0.00

420.81

10.26 times

Reunion

0,00

0,00

0,29

0,00

Rwanda

0,00

0,00

4,71

0,00

El Salvador

0.00

0.00

1.45

66.46

Somahoz

0,00

0,00

0,03

14,97

San Marino

0.00

0.00

230.77

471.61

Saudi Arabia

188.32

78.56

6 540.56

117.35

Swaziland

0.00

0.00

7.63

3.39

Senegal

0,00

0,00

0,32

0,00

St. Vincent and the Grenadines

0.00

0.00

0.06

0.00

Serbia

12.33

890.34

2 517.34

98.28

the Seychelles

0.00

0.00

80.30

364.17

Singapore

215.98

36.30

10 329.71

5.72

Syria

0.00

0.00

172.80

116.95

United States of America (USA)

2 965.13

9.41

381 110.97

135.82

the Solomon Islands

0.00

0.00

0.06

0.00

Somali

0,00

0,00

1,06

0,00

Sudan

0.97

0.00

91.99

889.72

Surinam

0.00

0.00

0.25

10.00

Sierra-Leone

0.00

0.00

6.22

60.62 times

Tanzania

0.00

0.00

166.25

50.42

Taiwan

267 212.02

53.70

9 469.93

115.75

Thailand

49 829.32

40.39

15 742.33

128.60

Tokelau

0.00

0.00

0.11

0.00

Tonga

0.00

0.00

0.02

0.00

Trinidad and Tobago

17.30

179.90

30.03

53.62

Tuvalu

0.00

0.00

0.69

0.00

Tunisia

136 507.54

113.10

1 668.47

112.57

Turkey

766 508.18

428.63

688 184.85

112.46

Uruguay

0.00

0.00

50.58

5.43

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

1 007.48

141.11

Falkland Islands

0,00

0,00

109,8

0,00

Chad

13.50

0.00

0.95

0.00

Chile

0.00

0.00

1 248.38

43.24

Switzerland

76 856.96

112.71

19 641.73

48.32

Sri-Lanka

0.00

0.00

25 487.46

111.30

Central African Republic

0.00

0.00

3.94

78.82

Ecuador

0.00

0.00

12 918.21

128.68

Eritrea

0.00

0.00

0.21

0.00

Ethiopia

0.00

0.00

198.63

721.82

South African Republic

0.26

0.10

5 198.90

119.02

Jamaica

0.00

0.00

1.34

0.05

Japan

795.44

76.06

56 765.08

29.01

Others

826.21

200.36

4.86

0.00

CIS countries, total:

522 821.40

149.60

1 170 376.07

103.30

Belarus

8 248.79

71.87

70 835.01

151.29

Kazakhstan

16 512.03

157.43

69 228.71

97.95

Kyrgyzstan

223.26

4.32

491.86

63.12

Moldova

78.27

17.46

3 012.76

154.55

Uzbekistan

1 789.40

131.91

8 018.22

227.30

Russia

329 112.98

155.30

785 954.13

92.57

Tajikistan

626.73

9.68

0.32

0.21

Turkmenistan

37 862.78

45.29

37 565.71

259.45

Ukraine

128 367.17

692.56

195 269.35

134.15

source: Azerbaijani state customs committee

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