Azerbaijan's foreign trade turnover reaches $20.1 bn

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $20.1 billion during January-August 2021, the State Statistics Committee has reported.

Out of the total turnover, exports amounted to $12.7 billion or 63.4 percent, while imports amounted to $7.3 billion or 36.6 percent. Overall, the country's foreign trade turnover resulted in a surplus of $5.4 billion. 

Compared to the corresponding period in 2020, the country's foreign trade turnover increased by 28.3 percent in actual prices and by 4.1 percent in real terms. 

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 180 countries. Goods were exported to 111 countries and imported from 167 countries.

During the reported period, exports of non-oil and gas products increased by 37.4 percent in an actual term, and by 24.3 percent in real terms, compared to the same months of 2020, and amounted to $1.5 billion.

The top five countries importing Azerbaijani products were Italy with 37.8 percent of exports, Turkey with 13.6 percent, Croatia and Russia with 4 percent, and Spain with 4 percent. 

In terms of the non-oil and gas products export, the most export volume accounts for Russia (33 percent), Turkey (25.7 percent), Switzerland (9.8 percent), Georgia (6.9 percent), and the U.S. (3 percent). 

Azerbaijan's top importers are Russia with 16.8 percent, Turkey with 15.4 percent, China with 13.7 percent, Germany with 5.9 percent, and the U.S. with 4.1 percent.

It should be noted that last year, the country's main trade partners were Italy, Turkey, Russia, Greece and Croatia. Azerbaijan's total trade turnover amounted to $24.4 billion in 2020.