Italy Azerbaijan's top trading partner in Jan-Mar
By Ayya Lmahamad
Italy was Azerbaijan's largest trade partner in the first quarter of 2021, with the mutual trade turnover amounting to $1.5 billion, the State Customs Committee has reported.
Of the total turnover, the export of Azerbaijani products to Italy amounted to $1.4 billion, while import from Italy amounted to $80.6 million. It should be noted that the trade turnover between the two countries amounted to $1.9 billion during the same months of 2020.
Italy was followed by Turkey and Russia in the list of Azerbaijan’s trade partners in the first three months of the year.
Turkey was Azerbaijan's second-largest trading partner, with a trade turnover of $1.1 billion. Export from Azerbaijan to Turkey amounted to $739.3 million, while import from Turkey amounted to $378.8 million. The trade turnover between Azerbaijan and Turkey amounted to $740.4 million in January-March 2020.
Russia was Azerbaijan's third-biggest trading partner in the reported period, with a trade turnover of $585.2 million, where export amounted to $135.3 million and import to $449.8 million. It should be noted that trade turnover between the two countries amounted to $573.9 million in the same months of the last year.
Likewise, Azerbaijan's top five trading partners were Italy, Turkey, Russia, China with a trade of $428.2 million and India with $386.2 million.
During the reported months, Azerbaijan's main export transactions were with Italy with $1.4 billion, Turkey with $739.3 million, India with $349.4 million, Georgia with $261.3 million and Spain with $182.1 million.
Azerbaijan's main import transactions during the first three months of the year were with Russia with $449.8 million, Turkey with $378.8 million, China with $312.4 million, Germany with $185 million and the U.S. with $116.8 million.
In the first quarter of the year, the country's trade turnover amounted to $6.6 billion. Of the total turnover, export amounted to $4.1 billion or 62 percent, while import was $2.5 billion or 37.9 percent, resulting in a surplus of $1.6 billion.
It should be noted that last year, the country's main trade partners were Italy, Turkey, Russia, Greece and Croatia. Total Azerbaijan's trade turnover last year amounted to $24.4 billion.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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