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Iran Azerbaijan’s top trading partner among Persian Gulf countries

27 October 2020 12:23 (UTC+04:00)
Iran Azerbaijan’s top trading partner among Persian Gulf countries

By Ayya Lmahamad

Iran was Azerbaijan’s largest trade partner among Persian Gulf countries during the first nine months of 2020, with the trade turnover between the two countries amounting to $240.3 million, the State Customs Committee has reported.

Out of the total turnover, value of export of Azerbaijani goods to Iran amounted to $30 million, while the import from Iran to Azerbaijan amounted to $210.3 million, during the reporting period. It should be noted that trade turnover between two countries amounted to $390.6 million during the same period of 2019.

Moreover, the United Arab Emirates was Azerbaijan’s second largest trading partner among Persian Gulf countries during the first nine months of 2020. Thus, trade turnover between two countries amounted to $31.3 million, with export amounting to $8 million and import to $23.3 million. It should be noted that during the corresponding period of last year, trade turnover between Azerbaijan and the United Arab Emirates amounted to $48.1 million.

Likewise, Saudi Arabia was Azerbaijan’s third largest trading partner among Persian Gulf countries, during the reporting period, with a trade turnover amounting to $9.5 million. Export of Azerbaijani goods to Saudi Arabia amounted to $1.3 million, while import from Saudi Arabia to Azerbaijan to $8.1 million. During the same period of 2019, the trade turnover between two countries amounted to $9 million.

Moreover, these countries are also the three leaders among Persian Gulf countries, in terms of Azerbaijan’s import.

Additionally, Iran, the United Arab Emirates and Iraq were three leaders among Persian Gulf countries, in terms of Azerbaijan’s export.

Thus, Azerbaijan’s trade turnover with Iraq amounted to $7.8 million, with export amounting to $7.6 million and import to $243,710. It should be noted that the trade turnover between two countries amounted to $11.6 million during the period of January-September 2019.

Earlier it was reported that Russia, Ukraine and Belarus were Azerbaijan’s top trading partners among CIS countries during the period of January-September 2020. Meanwhile, Spain, Brazil and Mexico were Azerbaijan’s top trading partners among Spanish-speaking countries during the reporting period.

Italy remained Azerbaijan's main trading partner during the period of January-September 2020, with a trade turnover of $3.4 billion.

The volume of Azerbaijan’s foreign trade turnover amounted to $18.4 billion during the period of January-September 2020. The value of export amounted to $10.5 billion or 57.49 percent of the total turnover, while the value of import amounted to $7.8 billion or 42.51 percent. Thus, foreign trade turnover resulted in surplus of $2.7 billion.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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