Italy Azerbaijan's top trade partner in 2020

21 January 2021 11:31 (UTC+04:00)

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By Ayya Lmahamad

Italy was Azerbaijan’s top trading partner in 2020 with the total trade turnover between the two countries amounting to $4.5 billion, the State Customs Committee has reported.

Of the total turnover, the export of Azerbaijani products to Italy amounted to $4.1 billion, while import from Italy amounted to $396.2 million. It should be noted that the trade turnover between the two countries amounted to $6 billion during the 2019.

Italy was followed by Turkey and Russia in the list of Azerbaijan’s trade partners last year.

Turkey was Azerbaijan's second largest trading partner in 2020, with a trade turnover of $4.1 billion. Export from Azerbaijan to Turkey amounted to $2.5 billion, while import from Turkey amounted to $1.5 billion. The trade turnover between Azerbaijan and Turkey amounted to $4.5 billion in 2019.

Russia was Azerbaijan's third biggest trading partner in 2020, with a trade turnover of $2.6 billion, where export amounted to $709.3 million and import to $1.9 billion. It should be noted that trade turnover between two countries amounted to $3 billion in 2019.

Likewise, during the reported period, Azerbaijan's top five trading partners were Italy, Turkey, Russia, China with the trade of $1.8 billion and Germany with $817.5 million.

Furthermore, the country's top five trading partners in terms of export during the reported period were Italy, Turkey, Russia, Greece with $523.3 million and Croatia with $470.8 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 $1.4 billion, the U.S. with $635.9 million and Germany with $583.4 million.

During the year, the country’s foreign trade turnover amounted to $24.4 billion. Of the total turnover, export amounted to $13.7 billion or 56.1 percent, while import to $10.7 billion or 43.8 percent, resulting in the surplus of the $3 billion.

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