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Azerbaijan's foreign trade turnover hits $11.7bn in 2020

13 August 2020 14:41 (UTC+04:00)
Azerbaijan's foreign trade turnover hits $11.7bn in 2020

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $11.7 billion in the first six months of 2020, State Statistics Committee reported on August 13.

According to the statement, the value of exported goods amounted to 57.5 percent or $5.6 billion from the trade turnover, while the value of imported goods amounted to 42.5 percent or $4.9 billion, resulting in the surplus of $1.7 billion.

Foreign trade turnover decreased by 30.3 percent in actual prices and by 20.5 percent in real terms, compared to the same period last year. In addition, imports decreased by 42.8 percent, while export by 4.6 percent.

During the reporting period, legal entities and individual entrepreneurs carried out trade operations with partners in 167 countries. Goods were exported to 100 countries and imported from 155 countries.

Moreover, in the first six months of the year, export of non-oil and gas goods decreased by 6.9 percent in actual prices and by 14 percent in real terms compared to the same period last year, amounting to $911.9 million.

Italy topped the list of countries importing Azerbaijani goods with the value of exports to this country amounting to $2.4 billion in 2020.

Top five countries exporting Azerbaijani products were Italy, with 32 percent of exports, Turkey, with 19.2 percent, Russia with 5 percent, Israel with 4.2 percent and India with 3.7 percent. Georgia accounts for 1 percent of Azerbaijan’s total export volumes.

In terms of export of non-oil and gas goods the most export volume accounts to Russia, with 40.6 percent, Turkey with 19.4 percent, Switzerland with 10.5 percent, Georgia with 8.4 percent and Ukraine with 2.4 percent. Italy accounts for 2.1 percent of the total volume of export of non-oil and gas goods.

Leading counties in terms of imported goods are Russia with 18.3 percent of the total value of imported goods, Turkey with 14.8 percent, China with 13.3 percent, U.S. with 8.1 percent and Germany with 5.3 percent.

In January-June 2020, exports of fresh vegetables increased by 4.3 percent, potatoes by 32 percent, fruit and vegetable juices by 3.8 percent, vegetable oils by 1.8 times, tea by 0.5 percent, margarine and other food mixtures by 52.1 percent, polyethylene by 39.8 percent, ferrous metal pipes by 1.8 times, bentonite clay by 5.2 percent, fresh fruit export by 24.5 percent, sugar by 25.9 percent, tobacco by 25.9 percent, canned vegetables by 0.8 percent, natural grape wines and grape juice by 52.2 percent, cotton fiber by 18.4 percent, cotton yarn by 22 percent and untreated aluminium by 5.8 percent.

Additionally, compared to January-June 2019, imports of fresh fruits in first six months of current year decreased by 15 percent, vegetable oils by 10.1 percent, raw sugar by 11 percent, butter, cream and other dairy oils by 34.5 percent, tea by 10 percent, beef by 29.4 percent, poultry and its by-products by 2.1 percent, fresh vegetables by 26.4 percent, cars by 29.2 percent, medicines by 1.7 times, rolled steel by 10.5 percent, ferrous metal bars by 1.7 times, computers, blocks and devices by 23.1 percent, household refrigerators by 39.2 percent, wheat by 37.8 percent, potatoes by 0.8 percent, cigarettes by 80.1 percent, ferrous metal tubes by 13.5 percent, mineral fertilizers by 3.4 percent, rubber tyres by 14.4 percent, household air conditioners by 24.7 percent, furniture by 23.2 percent, trucks by 15.6 percent, polyethylene by 14.8 percent, washing machines by 4.8 percent, ferrous metal corners by 7 percent, buses by 24.8 percent, cement and cement clinker by 92.1 percent.

It should be noted that the volume of cargo transportation in the Azerbaijani section of the Transport Corridor Europe-Caucasus-Asia (TRACECA) amounted to 21.6 million tons in January-June this year.


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