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By Trend
Azerbaijan’s trade turnover with five main trade partners reached 5.37 billion manats in January-July 2017, which accounts for 50.7 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee Aug. 11.
In January-July 2017, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $1.55 billion and a specific weight of 14.77 percent. Italy is followed by Turkey - $1.45 billion (13.83 percent), Russia – $1.12 billion (10.6 percent), China – $775.94 million (7.37 percent) and Germany – $430.95 million (4.1 percent).
January-July 2017 | January-July 2016 | ||||
Country | Trade turnover (thousand manats) | Specific weight (%) | Trade turnover (thousand manats) | Specific weight (%) | Difference (%) |
Italy | 1,553,586.54 | 14.77 | 1,094,790.4 | 11.71 | +42.2 |
Turkey | 1,454,693.02 | 13.83 | 791,040.87 | 8.46 | +83.8 |
Russia | 1,115,067.11 | 10.6 | 1,062,074.88 | 11.36 | +5.7 |
China | 775,937.3 | 7.37 | 390,567.53 | 4.18 | +98.7 |
Germany | 430,952.06 | 4.1 | 575,421.94 | 6.16 | -25.1 |
Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.39 billion (22.57 percent) of Azerbaijan’s total export volume.
Italy is followed by Turkey - $766.51 million (12.46 percent), China - $340.64 million (5.54 percent), Russia - $329.11 million (5.35 percent) and Georgia - $284.5 million (4.62 percent). The share of these countries in total export volume of Azerbaijan is 50.54 percent.
In January-July 2017, Azerbaijan imported goods worth $785.95 million (17.99 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $688.18 million (15.75 percent), China - $435.3 million (9.96 percent), the US - $381.11 million (8.72 percent) and Germany - $201.68 million (4.62 percent). The share of these countries in total import volume of Azerbaijan is 57.04 percent.
Azerbaijan’s foreign trade operations decreased by 6.9 percent and amounted to $10.52 billion in January-July 2017, as compared to the same period of 2016. The surplus in the reporting period amounted to $1.78 billion, whereas in January-July 2016, a trade deficit of $167.47 million was recorded.