Roughly 40pct of Azerbaijan's foreign trade turnover falls on EU countries
By Sara Israfilbayova
Azerbaijan’s legal entities and individuals carried out trade operations with their partners in 176 countries, exported products to 107 countries and imported from 169 countries during January-July 2017.
The foreign trade turnover amounted to $12.872 billion in January-July 2017, Azertac reported.
The goods in the amount of $8.5 billion were exported and imported in the amount of $4.3 billion, which led to a positive trade turnover of $4.3 billion.
About 37.3 percent of the trade turnover falls on the EU countries, 13.2 percent - on the CIS countries, 49.5 percent - on other countries.
The top five countries importing products from Azerbaijan include Italy (22.6 percent), Turkey (12.5 percent), China (5.5 percent), Russia (5.3 percent) and Georgia (4.6 percent).
Roughly 18.0 percent of the imported goods accounted for Russia, 15.7 percent – for Turkey, 10 percent – for China, 8.7 percent – for the U.S. and 4.6 percent – for Germany.
Azerbaijan is currently part of the European Neighborhood Policy, Eastern Partnership and the Council of Europe, and is a large recipient of aid and infrastructure investment from the EU.
In February 2017 the EU and Azerbaijan launched negotiations on a new strategic agreement that will replace the old one.
The EU is Azerbaijan's first trading partner representing 51 percent of Azerbaijan's total trade.
The EU's exports to Azerbaijan consist primarily of machinery and transport equipment whereas EU imports from Azerbaijan cover mainly oil and gas (98 percent of total imports).
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