Azerbaijan's foreign trade surplus hits $836.5M in January

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $836.5 million while the trade turnover hit $2.4 billion in January 2021, the State Customs Committee has reported.

Of the total turnover, export amounted to $1.6 billion or 67.3 percent, while import to $787.5 million or 32.6 percent, resulting in a surplus of $836.5 million.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 122 countries.

In terms of export, CIS countries accounted for $164.3 million or 10.1 percent, EU countries for $991.7 million or 61 percent and other countries for $468 million or 28.8 percent of the total country's export. 

As to the import, European Union countries accounted for $180.3 million or 22.9 percent, CIS countries for $161.1 million or 20.4 percent and other countries for $446 million for 56.6 percent of the total country's import during the reported month. 

Furthermore, some 21,973 tons of cargoes were transported by sea, 412,526 tons of cargoes were transported by railway and 292,490 tons of cargoes by car. Some 909 tons of cargoes were transported by air in January.

In the structure of exports, the main volume came from products of the oil and gas sector with 91 percent, while non-oil and gas sector amounted for 8.9 percent of the total export's volume.

Additionally, during the reported month, Azerbaijan's main export transactions were with Italy with $722.5 million, Turkey with $146.8 million, Spain with $138.5 million, Ukraine with $115.5 million and India with $109.2 million.

Azerbaijan's main import transactions during the reported period were with Russia with $115.1 million, Turkey with $114.3 million, China with $109.3 million, Germany with $90.8 million and the U.S. with $44.8 million.