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Foreign trade of Azerbaijan (January-August 2017)

Analysis Materials 14 October 2017 11:09 (UTC +04:00)

The foreign trade turnover with 180 countries amounted to $12.52 billion in January-August 2017, or by 9.24 percent less than in the same period of 2016.

The volume of exports decreased by 12.6 percent and amounted to $7.22 billion in January-August 2017 compared to January-August 2016. The volume of import reached $5.3 billion in January-August 2017 which is by 4.22 percent less than in January-August 2016.

Azerbaijan exported 2,775 goods and imported 7,061 different goods.

The black ink of foreign trade balance was estimated at $1.92 billion in January-August 2017, which is by 7.7 times more than in January-August 2016.

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

Main products exported from Azerbaijan

Products

Jan.-Aug. 2017

Compared to Jan.-Aug. 2016, %

Quantity

cost, $1,000

Share in export volume, %

cost

Crude oil, tons

13,270,401.01

5,085,538.13

70.41

78.04

Oil products (2710 by commodity code), tons

583,653.13

224,906.72

3.11

95.12

Natural gas, 1,000 cubic meters

5,182,571.64

926,776.92

12.83

122.31

electricity, 1,000 kW / hour

812,338.69

36,232.16

0.5

407.91

Fruits and vegetables, tons

310,490.90

269,509.57

3.73

142.73

Tea, tons

1,143.58

6,438.75

0.09

163.21

Animal fat and vegetable oil, tons

11,298.02

12,100.56

0.17

119.23

Sugar, tons

49,003.66

31,944.00

0.44

75.43

Spirits and soft drinks, $1,000

-

15,476.24

0.21

128.4

Chemical products, tons

204,331.09

50,286.91

0.7

125.48

Plastic, tons

108,366.40

74,222.22

1.03

114.16

Cotton fiber, tons

19,521.47

26,593.42

0.37

839.75

Cotton yarn, tons

4,616.97

10,692.12

0.15

82.25

Ferrous metals, tons

123,484.62

56,191.13

0.78

93.93

Aluminum and aluminum products, tons

42,068.80

79,341.95

1.1

128.61

Others

-

316,759.28

4.38

129.69

Source: Azerbaijani state customs committee

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

Most of Azerbaijan’s exports as of January-August 2017 (70.41 percent) accounted for the export of crude oil. During the reporting period, the country exported oil worth $5.08 billion.

The volume of export of crude oil in value terms decreased by 21.96 percent in January-August 2017 compared to January-August 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-August 2017, the export of oil products from Azerbaijan decreased from year to year.

The export of oil products amounted to $224.90 million in January-August 2017, which is by 4.88 percent less than in January-August 2016.

Some 3.11 percent of the country’s total export volume accounted for the export of oil products as of January-August 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-August 2017. Despite 0.5 percent accounted for electricity in Azerbaijan’s total exports, the figure increased by more than four times compared to the same period of 2016. Thus, 812.33 kW / h of electricity was sold to foreign countries.

During the reporting period, the export of natural gas increased by 22.3 percent in value terms. Azerbaijan exported 5.18 billion cubic meters of natural gas in January-August 2017. The cost of these volumes of natural gas was $926.77 million.

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

Cotton fiber was exported in the amount of $26.59 million in January-August 2017 or by over eightfold more than in January-August 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 15.47 million manat in January-August 2017, which is by 28.4 percent more than in January-August 2016.

The exports of aluminum and aluminum products also increased. In January-August 2017 aluminum was exported by 28.61 percent more than in January-August 2016. Some 1.1 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 42.73 percent in January-August 2017 compared to January-August 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 Ukraine, Kazakhstan and other countries.

The export of Azerbaijani chemical products has also increased since early 2017. So, export of chemical products increased by 25.48 percent and amounted to $50.28 million in January-August 2017 compared to January-August 2016. The share of chemical products was 0.7 percent in the total volume of export in January-August 2017.

The biggest volume of export accounted for Italy in January-August 2017. Thus, during this period Azerbaijan exported goods totaling $1.54 billion to Italy which makes up 21.42 percent of a total export volume. Oil and oil products are mainly exported to this country.

Turkey ($1,025.80 million) and China $436.91 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 ($913.22 million) in January-August 2017. Some 17.23 percent of the Azerbaijani imports accounted for Russia. Turkey ranks second - $808.37 million and China - third ($527.75 million).

Most of Azerbaijan’s imports or 22.29 percent in the reporting period accounted for the import of machinery, mechanisms, equipment, electrical equipment and spare parts. The machinery and equipment worth $1.18 billion were imported in January-August 2017, which is by 8.91 percent less than in January-August 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 9.23 percent in January-August 2017, while this volume was $496.66 million in nominal terms or by 38.74 percent less than in January-August 2016.

Vehicles and spare parts worth $608.50 million (a share in total imports – 11.048 percent) were supplied to the country. The cost of car imports increased by 6.02 percent in January-August 2017 compared to January-August 2016.

Azerbaijan imported 5,662 vehicles in January-August 2017 compared to 3,454 cars in January-August 2016.

Of the total number of vehicles imported for eight months of the current year, 4,874 account for motor vehicles.

Some 2,981 vehicles and motor vehicles were imported in January-August 2016.

Moreover, 603 trucks were imported to Azerbaijan in January-August 2017 (342 trucks in January-August 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 65.41 percent and butter - by 38.69 percent in January-August 2017 compared to January-August 2016.

Main products imported to Azerbaijan

Products

Jan.-Aug. 2017

Compared to Jan.-Aug. 2016, %

Quantity

cost

($1,000)

Import volume share, %

Meat, tons

28,249.77

42,979.26

0.81

210.93

Milk, tons

5,364.93

8,589.91

0.16

165.41

Butter, tons

10,284.39

46,265.94

0.87

138.69

Fruits, vegetables, tons

184,409.14

86,130.32

1.62

100.56

Tea, tons

8,015.94

31,021.05

0.59

116.25

Grain, tons

607,973.70

112,690.56

2.13

62.96

Animal fat and vegetable oil, tons

95,300.18

90,821.54

1.71

109.67

Sugar, tons

233,135.18

109,394.41

2.06

103.04

Tobacco, $1,000

-

101,914.91

1.92

96.58

Cement, tons

20,091.83

4,308.84

0.08

29.38

Pharmaceutical products, tons

7,153.93

123,431.53

2.33

105.2

Plastic, tons

111,429.42

193,417.72

3.65

105.6

Wood and wooden items, $1,000

-

133,469.67

2.52

109.58

Ferrous metals, tons

496,667.72

489,272.23

9.23

61.26

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

-

1,181,702.31

22.29

91.09

Vehicles and spare parts, $1,000

-

608,504.34

11.48

106.02

Furniture and its parts, $1,000

-

55,625.10

1.05

74.67

Others

-

1,542,612.21

29.1

108.19

source: Azerbaijani state customs committee

During this period, about 10,931 legal and physical entities were involved in foreign trade operations, including 4,996 - legal entities and 5,935 - physical entities.

The share of public sector in exports totaled $5.69 billion, private sector –$1.39 billion, the share of physical entities - $143.32 million.

The share of public sector in import operations amounted to $697.52 million, the private sector –$4.32 billion, physical entities – $279.25 million.

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

Country

Export, $1,000

Compared to January-August 2016, %

Import, $1,000

Compared to January-August 2016, %

Total

7 223 010.07

87.40

5 300 784.39

95.78

Including

European countries, total:

3 180 728.53

67.58

1 153 417.98

74.35

Austria

97 806.91

214.89

32 821.05

65.58

Belgium

9 236.09

263.86

35 756.61

96.25

Bulgaria

131.59

79.06

16 673.59

97.38

Great Britain

6 235.08

8.04

157 325.72

43.28

Hungary

547.37

65.86

24 516.19

84.76

Germany

266 234.19

63.24

246 529.28

97.44

Greece

125 086.43

275.71

5 597.49

48.68

Denmark

445.74

12.93 times

15 037.38

110.05

Ireland

4.92

0.02

7 382.80

51.44

Spain

143 883.51

46.73

36 229.07

116.66

Italy

1 546 883.15

57.39

205 515.61

88.23

Cyprus

25 690.60

24.96 times

578.90

161.48

Latvia

1 630.86

515.39

5 291.63

104.91

Lithuania

1 116.38

70.47

10 617.38

158.82

Luxemburg

15 533.22

609.84 times

2 372.36

96.43

Malta

36 886.65

62.97

45.18

144.57

Netherlands

12 829.01

40.56

60 437.04

113.13

Poland

4 684.85

181.73

38 803.46

85.26

Portugal

264 923.46

131.58

6 987.43

83.86

Romania

89 054.78

160.98

47 710.21

78.43

Slovakia

89.87

211.92

12 993.23

75.81

Slovenia

4 275.17

195.36

10 494.04

109.35

Finland

412.58

221.89

12 292.75

140.17

France

135 315.11

33.41

87 869.60

93.41

Croatia

73 688.85

52.15

1 015.73

2.01

Czech Republic

317 305.43

172.46

50 436.21

69.65

Sweden

372.03

122.90

20 527.43

33.64

Estonia

424.69

295.84

1 560.62

86.15

Other countries, total:

3 437 727.60

108.44

2 768 518.41

103.00

Albania

60.56

312.42

242.10

157.80

Algeria

13.61

4.28

919.92

299.96

Australia

470.02

574.20

3 245.66

62.12

Anguilla

0.00

0.00

2.22

0.00

Angola

16.22

10.62

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

40.21

16 217.54

191.82

Aruba

18.43

0.00

0.00

0.00

Afghanistan

14 888.46

54.95

0.00

0.00

Bahama Islands

0.00

0.00

2.86

506.81

Bangladesh

1.07

305.71

6 210.01

119.23

Barbados

0.00

0.00

15.86

59.18

Bahrain

18.95

318.72

75.22

110.51

Bolivia

1.28

184.65

10.20

787.37

Belize

1 425.36

0.00

1.96

0.00

Benin

0.00

0.00

215.00

0.00

the Bermuda Islands

9.88

0.00

0.00

0.00

Bosnia and Herzegovina

0.00

0.00

620.08

410.70

Botswana

0.00

0.00

0.05

3.95

Brazil

63.29

3.01

145 947.82

118.96

Brunei Darussalam

69.80

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

77.17

70.98

0.00

0.00

Virgin Islands (US)

0.00

0.00

4.52

323.84

Virgin Islands (UK)

0.00

0.00

11.20

323.38 times

Vietnam

55 068.08

112.96

26 932.15

162.01

Gabon

2.06

2.05

0.00

0.00

Haiti

0.00

0.00

0.23

15.60

Ghana

0.18

3.24

23.33

21.91

Guyana

0.00

0.00

147.96

169.06

Guatemala

0.00

0.00

164.39

95.09

Guinea-Bissau

0.00

0.00

1.06

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

16.77

204.86

Hong Kong

49.58

139.28

1 300.98

192.41

Greenland

0.00

0.00

47.19

90.27

Georgia

336 608.71

138.89

49 274.13

269.30

Guam

0.00

0.00

12.76

141.62

Jabaliya

0.00

0.00

2.57

5.92

Djibouti

298.06

0.00

0.00

0.00

Dominique

0.00

0.00

1.93

795.72

The Dominican Republic

0.00

0.00

119.41

197.02

Egypt

1 463.14

628.45

4 260.28

117.18

Zambia

0.00

0.00

17.99

17.88

Zimbabwe

0.00

0.00

215.65

10.59 times

Israel

305 640.31

88.37

22 639.25

244.60

India

272 223.07

98.79

65 369.68

193.00

Indonesia

93 186.70

120.51

32 306.31

132.33

Jordan

3 803.74

226.72

2 060.44

132.21

Iraq

11 573.04

104.52

0.21

1.85

Iran

11 447.35

37.34

157 470.01

172.24

Iceland

4.55

0.00

1 888.67

160.84

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

0.07

0.00

Cambodia

402.48

0.00

1 585.48

104.38

Cameroon

6.07

0.00

0.35

28.80

Canada

245 754.77

344.90

9 840.80

94.71

Qatar

3 419.77

79.34 times

23.12

64.21

Congo

15.34

0.00

0.00

0.00

Kenya

148.72

2874.41 times

444.53

76.77

Kiribati

0.00

0.00

0.04

0.26

China

436 918.07

378.01

527 759.48

125.06

Columbia

66.54

657.01

270.87

239.81

Congo (Brazzaville)

15.34

0.00

0.07

14.75

Korea

0.00

0.00

83.67

566.60

Republic of Korea

157.82

233.10

49 619.93

97.85

Costa-Rica

0.00

0.00

525.70

71.54

Côte d’Ivoire

0.00

0.00

30.79

439.36

Cuba

0.01

0.00

136.10

218.41

Kuwait

52.82

57.66

3 822.74

169.97

Cook Islands

0.00

0.00

0.11

0.00

Curaçao

0.00

0.00

4.53

18.47

Laos

0.00

0.00

17.52

11.01 times

Lesotho

0.00

0.00

2.24

0.00

Liberia

29.37

0.00

2.89

0.00

Liechtenstein

0.00

0.00

14.27

71.95

Lebanon

32 787.33

76.85

633.89

212.48

Libya

0.00

0.00

1.61

0.00

Mauritius

0.00

0.00

67.00

175.15

Mauritania

0.00

0.00

30.16

133.53

Madagascar

0.00

0.00

166.05

61.46

Maiori

0.00

0.00

0.53

0.00

Macau

0.00

0.00

0.55

0.00

Macedonia

0.00

0.00

452.24

294.89

Malawi

0.00

0.00

205.74

0.00

Malaysia

3 598.20

9.15

15 918.61

65.71

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

2 511.03

143.31

Martinique

0.00

0.00

11.32

0.00

Marshall Islands

0.00

0.00

2.6

13.93

Mexico

62.15

33.04

6 573.62

41.07

Mozambique

3.23

3.17

5.95

203.79 times

Monaco

0.15

0.00

4.94

11.88

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

90.52

0.00

0.00

0.00

Myanmar

0.00

0.00

361.27

383.48

Namibia

0.00

0.00

0.06

0.00

Nauru

0.00

0.00

0.48

0.00

Nepal

7.12

0.00

23.94

469.83

Niger

0.00

0.00

2.42

88.32

Nigeria

428.19

990.25

21.93

50.95

Nicaragua

0.00

0.00

0.94

161.41

Niue (New Zealand )

0.00

0.00

1.67

0.00

New Zealand

106.97

129.79

33 390.75

118.51

Norway

1 358.12

68.13

115 822.02

82.22

United Arab Emirates (UAE)

11 880.35

169.53

12 540.22

26.00

Norway

67.94

90.61

157.89

653.85

United Arab Emirates (UAE)

0.00

0.00

4.4

0.00

Pakistan

1 445.38

215.83

4 921.19

114.27

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

438.83

116.13

Palestine

58.10

94.80

53.20

0.00

Peru

1.81

0.95

239.55

71.57

Polynesia

0.00

0.00

0.07

0.00

Puerto Rico (USA)

0.00

0.00

492.58

860.83

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

58.22

Somahoz

0.00

0.00

0.03

14.97

San Marino

0.00

0.00

235.22

449.04

Saudi Arabia

235.96

49.89

8 337.74

103.77

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

18.04

13.02 times

2 922.53

105.71

the Seychelles

0.00

0.00

80.30

364.17

Saint Martin

0.00

0.00

0.54

0.00

Singapore

315.65

47.93

13 795.07

7.43

Syria

0.00

0.00

201.75

102.81

United States of America (USA)

3 314.76

4.30

413 091.92

131.71

the Solomon Islands

0.00

0.00

0.06

0.00

Somali

0,00

0,00

1,06

0,00

Sudan

1.44

0.00

91.99

887.52

Surinam

0.00

0.00

0.25

10.00

Sierra-Leone

0.00

0.00

8.60

83.84 times

Tanzania

0.00

0.00

289.30

87.74

Taiwan

267 240.32

45.19

11 013.32

116.58

Thailand

49 831.03

40.39

18 958.54

134.14

Tokelau

0.00

0.00

0.11

0.00

Tonga

0.00

0.00

0.02

0.00

Trinidad and Tobago

27.22

134.05

35.15

62.76

Tuvalu

0.00

0.00

0.69

0.00

Tunisia

157 585.12

110.14

1 864.63

110.61

Turkey

1 025 807.92

127.23

808 371.01

110.42

Uruguay

0.00

0.00

50.58

4.93

Faeroe Islands

0.00

0.00

226.58

45.54

the Fiji Islands

0.00

0.00

0.90

0.44

Philippines

0.30

0.00

1 146.25

126.83

Falkland Islands

0.00

0.00

109.,8

0.00

Chad

13.50

0.00

0.95

0.00

Chile

0.00

0.00

1 463.33

48.91

Switzerland

83 648.56

111.61

37 863.91

88.04

Sri-Lanka

0.00

0.00

30 036.55

111.19

Central African Republic

0.00

0.00

3.94

16.93

Ecuador

0.00

0.00

13 965.10

123.68

Eritrea

0.00

0.00

0.21

0.00

Ethiopia

0.00

0.00

378.04

12.83 times

South African Republic

1.09

0.40

6 333.64

120.01

Jamaica

0.00

0.00

2.70

0.10

Japan

1 246.52

112.25

70 642.90

31.21

Others

963.21

200.35

4.86

0.00

CIS countries, total:

604 553.94

155.87

1 378 848.00

106.48

Belarus

9 910.72

80.06

83 849.58

155.66

Kazakhstan

19 342.52

124.15

74 674.70

99.38

Kyrgyzstan

400.31

7.30

624.54

77.72

Moldova

100.71

21.25

3 302.08

149.99

Uzbekistan

2 015.42

116.02

10 425.07

214.29

Russia

364 862.70

159.38

913 226.75

94.37

Tajikistan

1 182.36

13.41

0.32

0.18

Turkmenistan

41 113.85

45.40

58 833.55

343.51

Ukraine

165 625.35

693.74

233 911.41

135.18

source: Azerbaijani state customs committee

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