Azerbaijan's foreign trade surplus hits $6.2bn

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $6.2 billion in January-September 2021, the State Customs Committee has reported.

During the first nine months of the year, the country's trade turnover amounted to $22.9 billion. Of the total turnover, export amounted to $14.6 billion or 63.6 percent, while import was $8.3 billion or 36.3 percent, resulting in a surplus of $6.2 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 182 countries.

In terms of export, the EU countries accounted for $8 billion or 54.7 percent, the CIS countries for $1.2 billion or 8.5 percent and other countries for $5.3 billion or 36.7 percent of the country's total export. 

As to the import, the CIS countries accounted for $1.9 billion or 23.8 percent, the EU countries accounted for $1.6 billion or 19.3 percent and other countries for $4.7 billion for 56.7 percent of the country's imports during the reported period.

Furthermore, 550,008 tons of cargo worth $483.3 million were transported by sea, 5 million tons worth $2.2 billion by railway, and 3.3 million tons worth $6.6 billion of cargo by car. Some 25,793 tons of cargo worth $1 billion were transported by air in January-September.

In the structure of exports, the main volume came from products of the oil and gas sector with 87.6 percent, while the non-oil and gas sector amounted to 12.3 percent of the total export volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy ($5.6 billion), Turkey ($1.9 billion),  Russia ($613.7 million), Spain ($558.2 million) and Croatia ($547.8 million).

Azerbaijan's main import transactions during the first nine months of the year were with Russia with $1.4 billion, Turkey with $1.3 billion, China with $1.1 billion, Germany with $485.1 million, and the U.S. with $336.8 million.