Five countries make over 50% of Azerbaijan’s turnover
By Trend
Azerbaijan’s trade turnover with five main trade partners reached 5.37 billion manats in January-July 2017, which accounts for 50.7 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee Aug. 11.
In January-July 2017, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $1.55 billion and a specific weight of 14.77 percent. Italy is followed by Turkey - $1.45 billion (13.83 percent), Russia – $1.12 billion (10.6 percent), China – $775.94 million (7.37 percent) and Germany – $430.95 million (4.1 percent).
January-July 2017 |
January-July 2016 |
||||
Country |
Trade turnover (thousand manats) |
Specific weight (%) |
Trade turnover (thousand manats) |
Specific weight (%) |
Difference (%) |
Italy |
1,553,586.54 |
14.77 |
1,094,790.4 |
11.71 |
+42.2 |
Turkey |
1,454,693.02 |
13.83 |
791,040.87 |
8.46 |
+83.8 |
Russia |
1,115,067.11 |
10.6 |
1,062,074.88 |
11.36 |
+5.7 |
China |
775,937.3 |
7.37 |
390,567.53 |
4.18 |
+98.7 |
Germany |
430,952.06 |
4.1 |
575,421.94 |
6.16 |
-25.1 |
Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.39 billion (22.57 percent) of Azerbaijan’s total export volume.
Italy is followed by Turkey - $766.51 million (12.46 percent), China - $340.64 million (5.54 percent), Russia - $329.11 million (5.35 percent) and Georgia - $284.5 million (4.62 percent). The share of these countries in total export volume of Azerbaijan is 50.54 percent.
In January-July 2017, Azerbaijan imported goods worth $785.95 million (17.99 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $688.18 million (15.75 percent), China - $435.3 million (9.96 percent), the US - $381.11 million (8.72 percent) and Germany - $201.68 million (4.62 percent). The share of these countries in total import volume of Azerbaijan is 57.04 percent.
Azerbaijan’s foreign trade operations decreased by 6.9 percent and amounted to $10.52 billion in January-July 2017, as compared to the same period of 2016. The surplus in the reporting period amounted to $1.78 billion, whereas in January-July 2016, a trade deficit of $167.47 million was recorded.
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