Azerbaijan-UK trade declines, while China trade sees growth

The mutual trade turnover between Azerbaijan and the United Kingdom fell to $613.31 million for the January-October period of 2024, marking a 16.4% decrease compared to the same period last year, according to the State Customs Committee.

Azerbaijani exports to the UK saw a 10% drop, totalling $400.64 million, with exports accounting for 1.76% of total trade (up from 1.52% in January-October 2023).

However, imports from the UK experienced a sharper decline of 26.3%, reaching $212.68 million, with imports making up 1.28% of total trade (down from 2.04% in the same period last year).

Meanwhile, trade between Azerbaijan and China showed contrasting trends. For the same January-October period, the total mutual trade turnover between the two nations stood at $3.02 billion, an increase of 17.1% compared to 2023.

Although exports from Azerbaijan to China fell sharply—down by 5.1 times to $14.33 million, equating to just 0.06% of total trade (down from 0.25% in 2023)—the volume of imports from China grew by 20% to $3.01 billion, now accounting for 18.04% of trade (up from 17.64% last year).

The data highlights a shift in trade patterns, with stronger demand for Chinese goods, while trade with the United Kingdom continues its downward trajectory.

By Aghakazim Guliyev