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Azerbaijan’s foreign trade turnover hits $11.9bn

15 July 2021 14:10 (UTC+04:00)
Azerbaijan’s foreign trade turnover hits $11.9bn

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $11.9 billion in the first five months of 2021, the State Statistics Committee has reported.

Out of the total turnover, export amounted to $7.5 billion or 63.3 percent, while imports amounted to $4.3 billion or 36.7 percent.

Overall, the country's foreign trade turnover resulted in a surplus of $3.1 billion.

Compared to the corresponding period in 2020, the country's foreign trade turnover increased by 21.3 percent in actual prices and decreased by 10.2 percent in real terms.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 169 countries. Goods were exported to 100 countries and imported from 156 countries.

Furthermore, during the reported period, exports of non-oil and gas products increased by 25.8 percent in an actual term, and by 11.9 percent in real terms, compared to the same months of 2020, and amounted to $907.6 million.

The top five countries importing Azerbaijani products were Italy with 36.8 percent of exports, Turkey with 16.3 percent, India and Georgia with 4.7 percent and Spain with 4.6 percent. Russia accounted for 3.9 percent of Azerbaijan's total export volume.

In terms of non-oil and gas products export, the most export volume accounts for Russia with 30.8 percent, Turkey with 28.1 percent, Switzerland with 10 percent, Georgia with 7.6 percent, and the US with 3.2 percent.

Azerbaijan's top importers are Russia with 17.5 percent, Turkey with 15 percent, China with 12.7 percent, Germany with 6.6 percent, and the United States with 4.4 percent. Italy accounts for 3.5 percent of the total value of imported goods.

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

Follow us on Twitter @AzerNewsAz

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