TODAY.AZ / Business

Azerbaijan’s foreign trade turnover hits $7bn

17 May 2021 [14:09] - TODAY.AZ

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $7 billion in January-March 2021, the State Statistics Committee has reported.

Out of the total turnover, export amounted to $4.5 billion or 64 percent, while import amounted to $2.5 billion or 36 percent.

Overall, the country's foreign trade turnover resulted in a surplus of $1.9 billion. 

Comparing to the corresponding period of last year, Azerbaijan's foreign trade turnover increased by 4.9 percent in actual prices and decreased by 15.1 percent in real terms. 

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 153 countries. Goods were exported to 89 countries and imported from 144 countries.

Furthermore, during the reported period, exports of non-oil and gas products increased by 17 percent in an actual term, and by 3.7 percent in real terms, compared to the same month of 2020, and amounted to $501.5 million.

The top five countries importing Azerbaijani products were Italy with 35.5 percent of exports, Turkey with 17.9 percent, India with 8.4 percent, Georgia with 6.3 percent, and Spain with 4.4 percent. Russia accounted for 3.3 percent of Azerbaijan's total export volume.

In terms of non-oil and gas products export, the most export volume accounts for Turkey with 32.5 percent, Russia with 25.9 percent, Switzerland with 8.9 percent, Georgia with 7.6 percent, and the US with 3.7 percent. Italy’s share in non-oil and gas products export amounted to 1.3 percent.

Additionally, leading countries in terms of imported goods to the country are Russia with 17.8 percent, Turkey with 15 percent, China with 12.3 percent, Germany with 7.3 percent, and the United States with 4.6 percent. Italy accounts for 3.2 percent of the total value of imported goods.


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