Azerbaijan's foreign trade surplus hits $2.8bn

18 May 2021 16:40 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $2.8 billion during January-April 2021, the State Customs Committee has reported.

During the first four months of the year, the country's trade turnover amounted to $9.8 billion. Of the total turnover, export amounted to $6.3 billion or 64.3 percent, while import was $3.5 billion or 35.6 percent, resulting in a surplus of $2.8 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 164 countries.

In terms of export, EU countries accounted for $3.3 billion or 52 percent, CIS countries for $532.5 million or 8.3 percent and other countries for $2.5 billion or 39.6 percent of the total country's export. 

As to the import, CIS countries for $893.5 million or 25.3 percent, European Union countries accounted for $683.5 million or 19.3 percent and other countries for $1.9 billion for 55.3 percent of the total country's import during the reported period.

Furthermore, 165,429 tons of cargoes were transported by sea, 2.1 million tons by railway and 1.3 million tons of cargoes by car. Some 15,524 tons of cargoes were transported by air in January-April.

In the structure of exports, the main volume came from products of the oil and gas sector with 89 percent, while non-oil and gas sector amounted for 10.9 percent of the total export's volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy with $2.3 billion, Turkey with $1 billion,  India with $349.6 million, Spain with $335.7 million and Georgia with $310.7 million.

Azerbaijan's main import transactions during the first four months of the year were with Russia with $641.9 million, Turkey with $537.5 million, China with $433.7 million, Germany with $242.9 million and the U.S. with $153.2 million.

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

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