Azerbaijan's foreign trade surplus hits $10.5 bn

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $10.5 billion in 2021, the State Customs Committee has reported.

Last year, the country's trade turnover amounted to $33.9 billion. Of the total turnover, export amounted to $22.2 billion or 65.4 percent, while import was $11.7 billion or 34.5 percent, resulting in a surplus of $10.5 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 188 countries.

In terms of export, the EU countries accounted for $13 billion or 58.8 percent, the CIS countries for $1.7 billion or 8 percent, and other countries for $7.3 billion or 33.1 percent of the country's total export. 

As to import, the CIS countries accounted for $2.9 billion or 25 percent, the EU countries accounted for $2.1 billion or 18.2 percent and other countries for $6.6 billion for 56.7 percent of the country's imports during the reported period.

Furthermore, 793,165 tons of cargo worth $716.3 million were transported by sea, 7 million tons worth $3.1 billion by railway, and 4.7 million tons worth $9.2 billion of cargo by car. Some 82,458 tons of cargo worth $1.5 billion were transported by air in 2021.

In the structure of exports, the main volume came from products of the oil and gas sector with 87.7 percent, while the non-oil and gas sector amounted to 12.2 percent of the total export volume.

Azerbaijan's main export transactions during the reported year were with Italy ($9.2 billion), Turkey ($2.8 billion), Russia ($920.8 million), Israel ($898 million), and Croatia ($751.2 million).

Azerbaijan's main import partners were Russia ($2 billion), Turkey ($1.8 billion), China ($1.6 billion), Germany ($634.3 million), and Ukraine ($470 million).