TODAY.AZ / Business

Five countries make over 50% of Azerbaijan’s turnover

13 August 2017 [17:22] - TODAY.AZ

By  Trend


Azerbaijan’s trade turnover with five main trade partners reached 5.37 billion manats in January-July 2017, which accounts for 50.7 percent of all volume of the country’s trade turnover, said a report of Azerbaijan’s State Customs Committee Aug. 11.

In January-July 2017, Italy ranked first in the list of Azerbaijan’s foreign trading partners with a trade turnover of $1.55 billion and a specific weight of 14.77 percent. Italy is followed by Turkey - $1.45 billion (13.83 percent), Russia – $1.12 billion (10.6 percent), China – $775.94 million (7.37 percent) and Germany – $430.95 million (4.1 percent).

January-July 2017

January-July 2016

Country

Trade turnover (thousand manats)

Specific weight (%)

Trade turnover (thousand manats)

Specific weight (%)

Difference (%)

Italy

1,553,586.54

14.77

1,094,790.4

11.71

+42.2

Turkey

1,454,693.02

13.83

791,040.87

8.46

+83.8

Russia

1,115,067.11

10.6

1,062,074.88

11.36

+5.7

China

775,937.3

7.37

390,567.53

4.18

+98.7

Germany

430,952.06

4.1

575,421.94

6.16

-25.1

Italy remains leader for consumption of Azerbaijani goods. The country accounted for $1.39 billion (22.57 percent) of Azerbaijan’s total export volume.

Italy is followed by Turkey - $766.51 million (12.46 percent), China - $340.64 million (5.54 percent), Russia - $329.11 million (5.35 percent) and Georgia - $284.5 million (4.62 percent). The share of these countries in total export volume of Azerbaijan is 50.54 percent.

In January-July 2017, Azerbaijan imported goods worth $785.95 million (17.99 percent) from Russia. Russia ranked first for this indicator and was followed by Turkey - $688.18 million (15.75 percent), China - $435.3 million (9.96 percent), the US - $381.11 million (8.72 percent) and Germany - $201.68 million (4.62 percent). The share of these countries in total import volume of Azerbaijan is 57.04 percent.

Azerbaijan’s foreign trade operations decreased by 6.9 percent and amounted to $10.52 billion in January-July 2017, as compared to the same period of 2016. The surplus in the reporting period amounted to $1.78 billion, whereas in January-July 2016, a trade deficit of $167.47 million was recorded.

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