Azerbaijan's foreign trade surplus amounts to $3.3bn in Jan-Nov

29 December 2020 13:44 (UTC+04:00)

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By Ayya Lmahamad

Azerbaijan's foreign trade surplus amounted to $3.3 billion during the period of January-November 2020, the State Customs Committee has reported.

During the reported period, the country's foreign trade turnover amounted to $22.7 billion. Of the total turnover, export amounted to $13.6 billion or 57.4 percent, while import amounted to $9.6 billion or 42.5 percent, resulting in the surplus of the $3.3 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 183 countries. Goods were exported to 107 countries and imported from 167 countries.

In terms of export, CIS countries accounted for $1.1 billion or 9.1 percent, EU countries for $6.5 billion or 50.3 percent and other countries for $5.2 billion or 40.5 percent of the total country's export. In addition, the highest volume of export operations during the first eleven months of the year, fall for January with $2.1 billion, and lowest for May with $665.4 million.

As to the import, European Union countries accounted for $2.3 billion or 23.9 percent, CIS countries for $2.4 billion or 25.7 percent and other countries for $4.8 billion for 50.3 percent of the total country's import during the reporting period. The highest volume of import operations during the first eleven months of the year fell for September with $1.1 billion, and lowest for January with $721 million.

During the first eleven months of the year, 824,638 tons of cargoes were transported by sea, 6.4 million tons of cargoes were transported by railway and 3.3 million tons of cargoes by car. Some 53,281 tons of cargoes were transported by air during the first eleven months of the year.

In the structure of exports, the main volume came from products of the oil and gas sector with 87.4 percent, while non-oil and gas sector amounted for 12.5 percent of the total export's volume.

Additionally, during the reported period, Azerbaijan's main export transactions were with Italy with $4 billion, Turkey with $2.5 billion, Russia with $644.6 million, Greece with $467.5 million and Croatia with $448.8 million.

Azerbaijan's main import transactions during the reported period were with Russia with $1.7 billion, Turkey with $1.4 billion, China with $1.2 billion, U.S. with 592.8 million and Germany with $513.4 million.

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