Azerbaijan, Turkey trade turnover up in 1Q2021

8 May 2021 12:53 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan increased the volume of trade turnover with Turkey by $377.8 million, bringing it to $1.1 billion in the first quarter of 2021, the State Customs Committee has reported.

Out of the total turnover, export amounted to $739.3 million while the import was $378.8 million. The mutual trade turnover was $740.4 million in the same period last year. 

Turkey was Azerbaijan's largest trade partner among OIC countries in the first quarter of 2021, followed by Iran and Tunis.

Azerbaijan and Turkey cooperate in various fields of economy. Eleven agreements were signed between the two countries within the Azerbaijani-Turkish business forum held in Ankara on February 18. The agreements envisage the development of Azerbaijani-Turkish cooperation in the economic, trade, and other spheres. Moreover, Turkey was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.

In the first quarter of the year, Azerbaijan’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.

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

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