Azerbaijan's foreign trade surplus hits $5.5bn in Jan-Aug

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $5.5 billion in January-August 2021, the State Customs Committee has reported.

During the first eight months of the year, the country's trade turnover amounted to $20.2 billion. Of the total turnover, export amounted to $12.9 billion or 63.7 percent, while import was $7.3 billion or 36.2 percent, resulting in a surplus of $5.5 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 180 countries.

In terms of export, the EU countries accounted for $7 billion or 54.2 percent, the CIS countries for $1 billion or 8.2 percent and other countries for $4.8 billion or 37.5 percent of the country's total export. 

As to the import, the CIS countries accounted for $1.7 billion or 23.5 percent, the EU countries accounted for $1.4 billion or 19.7 percent and other countries for $4.1 billion for 56.7 percent of the country's imports during the reported period.

Furthermore, 485,342 tons of cargo worth $443.8 million were transported by sea, 4.3 million tons worth $1.9 billion by railway and 2.9 million tons worth $5.8 billion of cargo by car. Some 24,945 tons of cargo worth $943.7 million were transported by air in January-August.

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 for 12.2 percent of the total export volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy ($4.8 billion), Turkey ($1.7 billion),  Croatia ($547.8 million), Russia ($545 million) and Spain ($514.6 million).

Azerbaijan's main import transactions during the first eight months of the year were with Russia with $1.2 billion, Turkey with $1.1 billion, China with $1 billion, Germany with $433.5 million, and the U.S. with $299.4 million.