By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $15 billion from January to July 2022, Azernews reports per the State Customs Committee.

The country's trade turnover amounted to $30 billion in the first seven months of the year. Of the total turnover, export amounted to $22.5 billion, or 75 percent, while import was $7.4 billion or 24.9 percent, resulting in a surplus of $15 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 170 countries.

In terms of export, EU countries accounted for $14.3 billion, or 63.8 percent, CIS countries for $963.6 million, or 4.2 percent with other countries for $7.2 billion, or 31.9 percent of the country's total export.

As to imports, CIS countries accounted for $2.1 billion, or 29 percent, EU countries accounted for $1.1 billion, or 15.4 percent with other countries for $4.1 billion or 55.4 percent of the country's imports during the reporting months.

Furthermore, 415,127 tons of cargo worth $541.4 million were transported by sea, 3.5 million tons worth $1.9 billion by railway, and 2.7 million tons worth $5.6 billion of cargo by vehicles. Some 48,194 tons of cargo worth $906 million were transported by air from January to July 2022.

In the structure of the exports, the main volume came from products of the oil and gas sector with 92.5 percent, while the non-oil and gas sector amounted to 7.4 percent of the total export volume.

Azerbaijan's primary export transactions during the reporting period were with Italy ($10.9 billion), Turkey ($2.1 billion), India ($1 billion), Israel ($1 billion), and the UK ($769.1 million).

Over the past seven months, Azerbaijan's main import partners were Russia ($1.4 billion), Turkey ($1.2 billion), China ($1.1 billion), Germany ($332.5 million), and Kazakhstan ($317.4 million).