Azerbaijan registers $1.5bn surprlus in foreign trade turnover

By Azernews

By Ayya Lmahamad

Azerbaijan's foreign trade turnover resulted in a surplus of $1.5 billion in January-May 2020, the State Statistics Committee has reported.

According to the report, in January- May 2020, legal entities and individuals in Azerbaijan carried out trade operations with partners across 166 countries. Products were exported to 98 countries and imported from 155 countries.

During the reporting period, the country’s foreign trade turnover amounted to $9.8 billion. Out of which, the value of exported products amounted to $5.8 million, or 57.7 percent, and the value of imported products amounted to $4.2 million, of the trade turnover. Thus, the surplus amounted to 41.5 million.

Moreover, foreign trade turnover decreased by 30.1 percent in actual prices and by 19 percent in real terms, including imports by 42.7 percent and exports by 2.2 percent compared to the same period last year.

Furthermore, during the reporting period, exports of non-oil gas products decreased by 8.9 percent in actual prices and by 14.5 percent in real terms, compared to the same period last year, and amounted to $721.5 million.

34.8 percent of exports accounts to Italy, 17.9 percent to Turkey, 4.5 percent to Israel, 4.1 percent to India, 4 percent to Russia, 3.5 percent to Greece, 3 percent to Croatia and Ukraine, 2.8 percent to Georgia, 2.7 percent to China, 2.3 percent to Czech Republic, 2 percent to Tunisia, 1.9 percent to Portugal, 1.6 percent to Germany and Vietnam, and 10.3 percent for other countries.

Likewise, exports of non-oil and gas products fell to Russia (37.6 percent), Turkey (20 percent), Switzerland (9.9 percent), Georgia (9.8 percent), China (3.3 percent), Italy (2.5 percent), Ukraine (2.4 percent), Kazakhstan (1.7 percent), Iran (1.2 percent), USA (1.1 percent), Belarus (1 percent), Germany (1 percent), and Turkmenistan (1 percent).

18.5 percent of the total value of imported goods account to Russia, 14.7 percent to Turkey, 13 percent to China, 8.6 percent to the United States, 5.3 percent to Germany, 4.3 percent to Ukraine, 4.1 percent to Italy, 2.8 percent to Iran, 2.6 percent to the United Kingdom, 1.9 percent to Japan, 1.7 percent to Korea, 1.6 percent to France and 20.9 percent to other countries.

Additionally, in January- May 2020, exports of potatoes decreased by 7.7 percent, fruit and vegetable juices - by 5.1 percent, vegetable oils - 1.9 times, tea – 7.5 times, canned fruits and vegetables - 1.1 percent, margarine and other food additives - 1.7 times, polyethylene - 42.2 percent, ferrous metal pipes - 1.7 times, export of fresh vegetables - 1.8 times, fresh fruits - 33.3 percent, sugar - 12.7 percent, tobacco - 25.9 percent, natural grape wines and grape juice - 49.3 percent, cotton fiber - 26.6 percent, cotton yarn - 18.8 percent, untreated aluminum - 15.9 percent, bentonite clay - 5.2 percent, compared to the same period of 2019.

Compared to the same period last year, in January- May 2020, imports of fresh fruits decreased by 15.9 percent, vegetable oils - 23.8 percent, butter and other dairy oils and pastes - 32.5 percent, tea - 5.2 percent, beef - 35.2 percent, poultry and its by-products - 4.5 percent, fresh vegetables - 25.2 percent, cars - 30 percent, medicines - 1.7 times, rolled steel - 29.4 percent, rods from ferrous metals - 48.3 percent, mineral fertilizers - 2.1 percent, computers, units and devices - 26,5 percent, ferrous metal corners - 2.3 percent, buses - 1.4 percent, household refrigerators - 39.1 percent, cement and cement clinkers - 1.5 percent, import of wheat - 38 percent, sugar - 6.5 percent, potatoes - 0.6 percent, cigarettes - 79,2 percent, ferrous metals - 7.7 percent, rubber tyres - 17.5 percent, furniture - 21.2 percent, trucks - 12.6 percent, polyethylene - 14.3 percent, household air conditioners - 35.1 percent, washing machines - 7.3 percent.