Country's foreign trade hits $26.6bn in 2021

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $26.6 billion during January-October 2021, the State Statistics Committee has reported.

Out of the total turnover, exports amounted to $17.3 billion or 65 percent, while imports amounted to $9.3 billion or 35 percent. Overall, the country's foreign trade turnover resulted in a surplus of $7.9 billion. 

Compared to the corresponding period in 2020, the country's foreign trade turnover increased by 34.4 percent in actual prices and by 1.8 percent in real terms. 

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 185 countries. Goods were exported to 115 countries and imported from 173 countries.

During the reported period, exports of non-oil and gas products increased by 42.2 percent in an actual term, and by 31 percent in real terms, compared to the same months of 2020, and amounted to $2 billion.

The top five countries importing Azerbaijani products were Italy with 39.6 percent of exports, Turkey with 11.9 percent, Croatia with 4.5 percent, Russia with 4.1 percent, and Israel with 3.7 percent. 

In terms of the non-oil and gas products export, the most export volume accounts for Russia (32.4 percent), Turkey (24.8 percent), Switzerland (9 percent), Georgia (6.4 percent), and the U.S. (2.9 percent). 

Azerbaijan's top importers are Russia with 17.7 percent, Turkey with 15.9 percent, China with 14 percent, Germany with 5.7 percent, and the U.S. and Ukraine with 3.9 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.