Iran Azerbaijan's top trade partner among Persian Gulf countries in 2020

By Ayya Lmahamad

Azerbaijan's trade with southern neighbour Iran amounted to $339.1 million, thus making Iran Azerbaijan's largest trading partner among the Persian Gulf countries in 2020, the State Customs Committee has reported.

Out of the total turnover, export from Azerbaijan to Iran amounted to $38.4 million, while the import from Iran amounted to $300.6 million in 2020 compared to $493.8 million in 2019.

The United Arab Emirates was Azerbaijan's second largest partner among the Persian Gulf countries in 2020 with the trade amounting to $40.2 million compared to $66 million in 2019, which represents a decrease of over 31 percent. Export to UAE amounted to $10.7 million, while import was $29.5 million last year.

Furthermore, Saudi Arabia, with the trade of $13.4 million was Azerbaijan's third largest partner among the Persian Gulf countries in 2020. Out of the total turnover, export amounted to $1.7 million, while import to $11.7 million. It should be noted that the trade between the two countries amounted to $13.7 in 2019. Thus, there was an increase in the trade between Azerbaijan and Saudi Arabia by 1.8 percent.

Likewise, these countries are also the three leaders among the Persian Gulf countries, in terms of Azerbaijan’s import.

In the meantime, Iran, Iraq and the United Arab Emirates were the three leaders among the Persian Gulf countries, in terms of Azerbaijan’s export.

Export of Azerbaijani products to Iraq amounted to $11.2 million, while the import to $253,600. The trade between the two countries resulted in $11.4 million in 2020.

Azerbaijan’s foreign trade turnover amounted to $24.4 billion in 2020. 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

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