Azerbaijan's foreign trade turnover hits $6.7bn in 2020
By Akbar Mammadov
The volume of Azerbaijan’s foreign trade turnover amounted to $6695.3 million in the period of January-March, the State Statistics Committee said in its report on May 18.
The value of exported products made up 4058.3 million dollars or 60.6 percent of the trade turnover, while the value of imported products made up 2637.0 million dollars (39.4 percent), resulting in a positive balance of 1421.3 million dollars.
According to the report, compared to January-March 2019, Azerbaijan’s foreign trade turnover decreased by 16.0 percent in actual prices, 15.8 percent in real terms, including 32.9 percent in imports and 4.8 percent in exports. Thus, in 2019, Azerbaijan’s foreign trade turnover amounted to 33138.5 million US dollars, including the value of exports was 19471.3 million dollars, while the value of imports was 13667.2 million dollars, resulting in a positive trade balance of 5804.1 million dollars.
Furthermore, in January-March 2020, exports of non-oil and gas products increased by 3.4 percent in actual prices compared to January-March 2019, and decreased by 5.2 percent in real terms and amounted to $ 429.0 million.
Thus, in January-March 2020, legal entities and individuals of Azerbaijan carried out trade transactions with partners in 153 countries, exported products to 91 countries and imported from 142 countries.
In the meantime, according to the State Customs Committee, the main countries making up the greatest portion in Azerbaijan’s trade turnover balance are Italy, Turkey, Israel, Russia, China and the US.
According to the State Customs Committee, 43.5 percent of exports went to Italy, 8.3 percent to Turkey, 6.0 percent to Israel, 4.5 percent to Greece, 4.0 percent to India, 3.4 percent to the Czech Republic, 3.3 percent to Russia. 2.8 percent to Tunisia and Portugal, 2.5 percent to Georgia, 2.3 percent each to Germany and Ukraine, 2.1 percent to Vietnam, 2.0 percent to Austria and 10.2 percent to other countries in the value of the exported goods.
In the case of imports, Russia accounted for 16.4 percent of the total value of imported goods, Turkey for 14.8 percent, China for 13.4 percent, the United States for 10.7 percent, Germany for 5.2 percent, Italy for 4.5 percent, Ukraine for 3.8 percent. 0 percent fell to Iran, 2.2 percent to the United Kingdom, 1.8 percent each to Japan and Korea, 1.7 percent to Turkmenistan, 1.5 percent to France, and 19.2 percent to other countries.
It should be noted that during the estimation of the foreign trade turnover, the State Statistics Committee took into account the statistically estimated value of exported crude oil and natural gas, registered with the customs authorities, but not fully cleared by customs.
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Akbar Mammadov is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97
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