Azerbaijan's foreign trade surplus hits $3.4bn in 1H2021

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $3.4 billion during the period of January-June 2021, the State Customs Committee has reported.

During the first half of the year, the country's trade turnover amounted to $14.2 billion. Of the total turnover, export amounted to $8.8 billion or 62 percent, while import was $5.3 billion or 37.9 percent, resulting in a surplus of $3.4 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 171 countries.

In terms of export, EU countries accounted for $4.4 billion or 50.8 percent, CIS countries for $806.9 million or 9.1 percent and other countries for $3.5 billion or 40 percent of the total country's export. 

As to the import, CIS countries accounted for $1.2 billion or 24 percent, European Union countries accounted for $1 billion or 19.8 percent and other countries for $3 billion for 56.1 percent of the country's imports during the reported period.

Furthermore, 303,830 tons of cargo worth $294.2 million were transported by sea, 3.1 million tons worth $1.3 billion by railway and 2.2 million tons worth $4.3 billion of cargo by car. Some 17,105 tons of cargo worth $672 million were transported by air in January-June.

In the structure of exports, the main volume came from products of the oil and gas sector with 86.8 percent, while the non-oil and gas sector amounted for 13.1 percent of the total export volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy ($3.1 billion), Turkey ($1.3 billion),  Russia ($418.5 million), Georgia ($389.5 million) and India ($352.6 million).

Azerbaijan's main import transactions during the first six months of the year were with Russia with $923.9 million, Turkey with $817.6 million, China with $697.4 million, Germany with $341.4 million and the U.S. with $229.9 million.