Azerbaijan’s foreign trade turnover hits $19.8 bn in Jan-Oct
By Ayya Lmahamad
The volume of Azerbaijan’s foreign trade turnover amounted to $19.8 billion during the period of January-October 2020, the State Statistics Committee has reported.
Out of the total turnover, export amounted to $11.1 billion or 55.9 percent, while import amounted to $8.7 billion or 44.1 percent. Thus, foreign trade turnover resulted in a surplus of $2.3 billion.
It should be noted that the country’s foreign trade turnover decreased by 27.5 percent in actual terms and by 21.7 percent in real terms, compared to the same period of last year. Of which, import decreased by 37.6 percent and exports by 10.4 percent.
Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 182 countries. Goods were exported to 107 countries and imported from 173 countries.
Furthermore, during the reported period, exports of non-oil and gas products decreased by 8.2 percent in actual terms and by 17.7 percent in real terms, compared to the corresponding period of 2019, and amounted to $1.4 billion.
Top five countries importing Azerbaijani products were Italy with 31.7 percent of exports, Turkey with 19 percent, Russia with 4.6 percent, Croatia with 3.7 percent and Greece with 3.4 percent. Georgia accounted for 3 percent of Azerbaijan’s total export volume.
In terms of non-oil and gas products export, the most export volume accounts for Russia with 38.1 percent, Turkey with 19.8 percent, Switzerland with 12.2 percent, Georgia with 7.6 percent and China with 2.4 percent. Italy’s share in non-oil and gas products export amounted to 1.8 percent.
Additionally, leading countries in terms of imported goods to the country are Russia with 18.6 percent, Turkey with 14.5 percent, China with 13.1 percent, the United States with 6.5 percent and Germany with 5.3 percent. Italy accounts for 3.9 percent in the total value of imported goods.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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