Azerbaijan's trade turnover with Italy hits $4.4 bn in 2020
By Ayya Lmahamad
Italy kept the position of being Azerbaijan's main trade partner during the period of January-November 2020, with a trade turnover amounting to $4.4 billion, the State Customs Committee has reported.
Of the total turnover, the export of Azerbaijani products to Italy amounted to $4 billion, while import from Italy amounted to $363.6 million. It should be noted that the trade turnover between the two countries amounted to $5.7 billion during the corresponding period of 2019.
Turkey was Azerbaijan's second largest trading partner during the reported period, with a trade turnover of $3.9 billion. Export from Azerbaijan to Turkey amounted to $2.5 billion, while import from Turkey amounted to $1.4 billion. The trade turnover between Azerbaijan and Turkey amounted to $4 billion during the first eleven months of last year.
Russia was Azerbaijan's third biggest trading partner during the period of January-November 2020, with a trade turnover of $2.4 billion, where export amounted to $644.6 million and import to $1.7 billion. It should be noted that trade turnover between two countries amounted to $2.7 billion during the reported period of 2019.
Likewise, during the reported period, Azerbaijan's top five trading partners were Italy, Turkey, Russia, China with the trade of $1.7 billion and Germany with $745.7 million.
Furthermore, the country's top five trading partners in terms of export during the reported period were Italy, Turkey, Russia, Greece with $467.5 million and Croatia with $448.8 million.
In the meantime, Azerbaijan's top five trading partners in terms of import during the first ten months of the year were Russia, Turkey, China with $1.2 billion, the U.S. with $592.8 million and Germany with $513.4 million.
The volume of Azerbaijan’s foreign trade turnover amounted to $22.7 billion during the period of January-November 2020. 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.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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