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Turkey Azerbaijan's top trade partner among OIC countries

7 December 2020 17:50 (UTC+04:00)
Turkey Azerbaijan's top trade partner among OIC countries

By Ayya Lmahamad

Turkey was Azerbaijan's largest trade partner among OIC countries, with a trade turnover of $3.5 billion during the period of January-October 2020, the State Customs Committee has reported.

The volume of export of Azerbaijani products to Turkey amounted to $2.3 billion, while the import from Turkey amounted to $1.2 billion. In the meantime, Turkey was Azerbaijan's second largest trade partner after Italy during the reported period. It should be noted that the trade turnover between two countries amounted to $3.6 billion during the corresponding period of 2019.

Tunis was Azerbaijan's second main trade partner among OIC countries during the first ten months of the year with a trade turnover amounting to $296.2 million. Of the total turnover, export of Azerbaijani products to Tunis amounted to $293.5 million, while import to Azerbaijan amounted to $2.7 million. Trade turnover between two countries amounted to $3.3 million during the same period of last year.

Moreover, Iran was Azerbaijan's third main partner among OIC countries with a trade turnover of $274 million, of which export accounts for $34.5 million and import for $239.4 million. It should be noted that the trade turnover between Azerbaijan and Iran amounted to $422.6 million during the first ten months of 2019. In addition, Iran was Azerbaijan's main trading partner during the reported period among Persian Gulf countries.

The volume of Azerbaijan’s foreign trade turnover amounted to $17.8 billion during the period of January-September 2020. The value of export amounted to $10 billion or 56.1 percent of the total turnover, while the value of import amounted to $7.8 billion or 43.9 percent. Thus, foreign trade turnover resulted in surplus of $2.1 billion.

During the reported period, Azerbaijan's top five trading partners were Italy with $4.2 billion, Turkey with $3.5 billion, Russia with $2.1 billion, China with trade of $1.5 billion and Germany with $697.7 million.

Additionally, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 178 countries. Goods were exported to 107 countries and imported from 167 countries.

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

Follow us on Twitter @AzerNewsAz

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