Azerbaijan’s foreign trade turnover hits $13.7bn
The volume of Azerbaijan’s foreign trade turnover amounted to $13.7 billion during the period of January-July 2020, the State Statistics Committee has reported.
According to the statement, the value of export amounted to $7.8 billion or 57.2 percent of the total turnover, while the value of imports amounted to $5.9 billion or 42.8 percent. Thus, foreign trade turnover resulted in a surplus of $1.9 billion.
Foreign trade turnover decreased by 30.9 percent in actual prices and by 22.5 percent in real terms, compared to the same period of 2019. In the meantime, imports decreased by 43.4 percent and export by 7.1 percent.
Legal entities and individual entrepreneurs in the country carried out trade operations with partners in 172 countries. Goods were exported to 102 countries and imported from 160 countries.
Moreover, during the reporting period, the export of non-oil and gas products amounted to $1 billion, with a decrease by 8.6 percent in actual prices and by 17.1 percent in real terms, compared to the same period last year.
The top five countries exporting Azerbaijani products were Italy with 32.1 percent of exports, Turkey with 18.7 percent, Russia with 4.7 percent, China with 4.1 percent and India with 4 percent. Georgia accounted for 3 percent of Azerbaijan’s total export volume.
In terms of non-oil and gas products export, the most export volume accounts for Russia with 40.4 percent, Turkey with 19.8 percent, Switzerland with 10.4 percent, Georgia with 8.1 percent and China with 3.1 percent. Italy’s share in non-oil and gas products export amounted to 2 percent.
Furthermore, leading countries in terms of imported goods are Russia with 18.4 percent, Turkey with 14.7 percent, China with 13.2 percent, the United States with 7.9 percent and Germany with 5.1 percent. Italy accounts for 4.2 percent of the total value of imported goods.