Azerbaijan records significant trade turnover increases with top partners

    ECONOMICS  28 November 2022 - 12:46

    Azerbaijan’s trade turnover with its main 10 partners amounted to $34.351 billion for the period of January to October 2022, an increase of 83.74% from last year.

    Trend reported on this with reference to a report of the State Customs Committee.

    According to that, Italy has retained the status of being Azerbaijan’s largest trade partner with a turnover of $17.354 billion, an increase of 147.08%. Following that is Türkiye with over $5.057 billion (44.61% increase) and Russia with $2.867 billion (22.29%).

    Import levels have increased during this period, by $2.254 billion to be exact, representing a 24.15% increase from last year. These levels, therefore, make up 25.03% of Azerbaijan’s total foreign trade levels, which is a decrease from last year’s 35.65%.

    Most goods were bought from Russia with $2.148 billion, which makes up 18.54% of total imports.

    The next countries on the import list are Türkiye ($1.833 billion, 15.83%), China ($1.693 billion, 14.61%), Germany ($517.125 million, 4.46%) and Kazakhstan ($416.049 million, 3.59%).

    Export levels amounted to $34.7 billion, which is twice as much as for the same period last year, resulting in exports accounting for 74.97% of total foreign trade. an increase from last year’s 64.35%.

    In total, the foreign trade turnover for the first 10 months of 2022 has therefore increased by 76.8% or $20.12 billion compared to last year when it was $26.182 billion.

    As a result of these changes. the trade surplus remained positive during the reporting period, growing by more than $15.6 billion to reach $23.123 billion, which is three times above what it was in 2021 for the same period, $7.515 million.

    The trade turnover with Azerbaijan's top 10 partners for this and last year is listed below: 

    January - October 2022

    January - October 2021

    Countries

    Тrade turnover (000's. $)

    % of total trade turnover

    Countries

    Тrade turnover (000's. $)

    % of total trade turnover

    Italy

    17 354 039.78

    37.48

    Italy

    7 023 636.56

    26.83

    Türkiye 

    5 057 994.81

    10.92

    Türkiye 

    3 497 727.24

    13.36

    Russia

    2 867 784.82

    6.19

    Russia

    2 345 140.95

    8.96

    India

    1 767 207.22

    3.82

    China

    1 444 733.28

    5.52

    China

    1 745 859.45

    3.77

    Germany

    952 540.64

    3.64

    Israel

    1 538 566.49

    3.32

    Ukraine

    784 402.99

    3

    Greece

    1 373 056.20

    2.97

    Croatia

    753 051.45

    2.88

    UK

    980 313.36

    2.12

    Israel

    645 915.77

    2.47

    Croatia

    963 667.52

    2.08

    Spain

    624 955.43

    2.39

    Germany

    702 585.35

    1.98

    Georgia

    623 263.54

    2.38

     

    Caliber.Az

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