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Azerbaijan's foreign trade turnover hits $8.2bn in Q1

16 June 2020 16:01 (UTC+04:00)
Azerbaijan's foreign trade turnover hits $8.2bn in Q1

By Akbar Mammadov

Azerbaijan’s foreign trade turnover amounted to 8.2 billion US dollars between January and April of 2020, the State Statistics Committee (STC) reported on June 16.

Thus, in January-April, legal entities and individuals of Azerbaijan carried out trade transactions with partners in 161 countries; products were exported to 96 countries and imported from 149 countries.

Taking into account the statistically estimated value of exported crude oil and natural gas, which were registered with the customs authorities, in January-April 2020, the country's foreign trade turnover amounted to 8 billion 180.5 million US dollars, the STC reported.

According to the data provided by the STC, the value of exported products has made up $4.8 billion or 58.7 per cent of the foreign trade turnover, and the value of imported products has made up $3.4 billion or 41.3 per cent, resulting in a positive trade balance of $1.4 billion.

Compared to January-April 2019, the foreign trade turnover decreased by 25.5 per cent at actual prices, 17.1 per cent at real terms. More specifically, the country's imports and exports declined by 40.5 per cent and 0.4 per cent accordingly.

It should be noted that the volume of Azerbaijan’s foreign trade turnover amounted to $6.7 billion in the period of January-March, 2020.

The value of exported products made up 4.1 billion dollars or 60.6 per cent of the trade turnover, while the value of imported products made up 2.6 billion dollars (39.4 per cent), resulting in a positive balance of 1.4 billion dollars.

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Akbar Mammadov is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97

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