Azernews.Az

By Sara Israfilbayova

The growth of the foreign trade turnover of Azerbaijan was favored both by the rise of oil prices in world markets and by the implementation of projects to commission new enterprises.

Statistics of foreign economic activity of Azerbaijan shows that in January 2018 the volume of foreign trade turnover of the country amounted to $1.727 billion, which is $473 million, or 37.7 percent more compared to the same period in 2017.

At the same time, the export of Azerbaijani products amounted to $1.038 billion, while imports reached $688 million. Thus, in foreign trade activities in January, a positive balance of $350 million was recorded.

The main export commodities in January 2018 were crude oil - $874.8 million (84.2 percent), natural gas - $22.7 million (2.19 percent) and fruits and vegetables - $34.8 million (3, 36 percent).

In the import of goods, the leading place was occupied by equipment from the world’s leading manufacturers, which is connected with the expectation of commissioning of new enterprises equipped with modern production lines.

The main trade partner of Azerbaijan in January 2018 was Italy, which accounted for $297.8 million, or 17.24 percent of the total turnover.

Among the leading trade partners of Azerbaijan are also Russia - $163.9 million (9.49 percent), Israel - $138.8 million (8.04 percent) and Turkey - $124.3 million (7.2 percent).

In foreign trade were involved 3,568 persons in January 2017 who conducted trade operations with 121 countries around the world.

In general, in 2017 foreign trade turnover amounted to $24.257 billion, which is 12.3 percent more than a year earlier, the State Statistics Committee reported.

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