Azerbaijan's foreign trade hits $25.8bn in Jan-Jun 22

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $25.8 billion in January-June 2022, Azernews reports, citing the State Statistics Committee.

Out of the total turnover, exports amounted to $19.5 billion or 75.4 percent, while imports amounted to $6.3 billion or 24.6 percent. Overall, the country's foreign trade turnover resulted in a surplus of $13.1 billion.

Compared to the first six months of 2021, the country's foreign trade turnover increased by 73.4 percent in actual prices and by 8.1 percent in real terms.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 165 countries. Goods were exported to 113 countries and imported from 151 countries.

During the reporting period, exports of non-oil and gas products increased by 25.4 percent in actual terms and by 12.4 percent in real terms and amounted to $1.4 billion.

Italy accounted for 36.7 percent of Azerbaijan's total trade turnover, Turkey for 11.7 percent, Russia for 6.3 percent, China for 3.9 percent each, and Israel for 3.8 percent.

The top five countries importing Azerbaijani products were Italy with 48.6 percent of exports, Turkey with 10 percent, Israel with 5.1 percent, India with 4.4 percent, and the UK with 3.3 percent each.

In terms of non-oil and gas products exports, the most export volume accounts for Turkey (29.4 percent), Russia (26.2 percent), Georgia (6.1 percent), Switzerland (5.8 percent), and the U.S. (3.9 percent).

Azerbaijan's top importers are Russia with 18.6 percent, Turkey with 16.6 percent, China with 14.8 percent, Kazakhstan with 4.8 percent, and Germany with 4.4 percent.