Azerbaijan's foreign trade hits $21.3bn

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $21.3 billion in January-May 2022, Azernews reports, citing the State Statistics Committee.

Out of the total turnover, exports amounted to $16.2 billion or 75.9 percent, while imports amounted to $5.1 billion or 24.1 percent. Overall, the country's foreign trade turnover resulted in a surplus of $11 billion.

Compared to the first five months of 2021, the country's foreign trade turnover increased by 75.5 percent in actual prices and by 10 percent in real terms.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 158 countries. Goods were exported to 109 countries and imported from 146 countries.

During the reporting period, exports of non-oil and gas products increased by 30.9 percent in actual terms and by 17.5 percent in real terms and amounted to $1.1 billion.

Italy accounted for 37.4 percent of Azerbaijan's total trade turnover, Turkey for 11.9 percent, Russia for 6 percent, India and Israel for 4.2 percent each, and China for 3.8 percent.

The top five countries importing Azerbaijani products were Italy with 49.1 percent of exports, Turkey with 10.4 percent, Israel with 5.6 percent, India with 5.2 percent, and Greece and the UK with 3.1 percent each.

In terms of non-oil and gas products exports, the most export volume accounts for Turkey (32.8 percent), Russia (22.2 percent), Georgia (6.3 percent), Switzerland (5.6 percent), and the U.S. (3.7 percent).

Azerbaijan's top importers are Russia with 18.9 percent, Turkey with 16.6 percent, China with 14.9 percent, Kazakhstan with 4.5 percent, and Germany with 4.4 percent.