Azerbaijan’s foreign trade turnover hits $2.2bn in Jan

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $2.2 billion in January 2021, the State Statistics Committee has reported.

Out of the total turnover, export amounted to $1.4 billion or 64.9 percent, while import amounted to $787.5 million or 35.1 percent. Thus, foreign trade turnover resulted in a surplus of $667.4 million.

Comparing to the corresponding period of last year, the country's foreign trade turnover decreased by 5.7 percent in actual terms and by 10.1 percent in real terms. Of which, import decreased by 12.3 percent and export by 9.1 percent.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 122 countries. Goods were exported to 61 countries and imported from 117 countries.

Furthermore, during the reported period, exports of non-oil and gas products increased by 3.8 percent in actual term, while decreasing by 12.9 percent in real terms, compared to the same month of 2020, and amounted to $146.1 million.

The top five countries importing Azerbaijani products were Italy with 44.5 percent of exports, Turkey with 9 percent, Spain with 8.5 percent, Ukraine with 7.1 percent and India with 6.7 percent. Georgia accounted for 1.4 percent of Azerbaijan’s total export volume.

In terms of non-oil and gas products export, the most export volume accounts for Turkey with 36.1 percent, Russia with 29.3 percent, Switzerland with 6.9 percent, Georgia with 4.4 percent and China with 2.9 percent. Italy’s share in non-oil and gas products export amounted to 2.2 percent.

Additionally, leading countries in terms of imported goods to the country are Russia with 14.6 percent, Turkey with 14.5 percent, China with 13.9 percent, Germany with 11.5 percent and the United States with 5.7 percent. Italy accounts for 2.7 percent in the total value of imported goods.