Italy Azerbaijan's top trade partner in 2020

By Azernews

By Ayya Lmahamad

Italy was Azerbaijan’s top trading partner in 2020 with the total trade turnover between the two countries amounting to $4.5 billion, the State Customs Committee has reported.

Of the total turnover, the export of Azerbaijani products to Italy amounted to $4.1 billion, while import from Italy amounted to $396.2 million. It should be noted that the trade turnover between the two countries amounted to $6 billion during the 2019.

Italy was followed by Turkey and Russia in the list of Azerbaijan’s trade partners last year.

Turkey was Azerbaijan's second largest trading partner in 2020, with a trade turnover of $4.1 billion. Export from Azerbaijan to Turkey amounted to $2.5 billion, while import from Turkey amounted to $1.5 billion. The trade turnover between Azerbaijan and Turkey amounted to $4.5 billion in 2019.

Russia was Azerbaijan's third biggest trading partner in 2020, with a trade turnover of $2.6 billion, where export amounted to $709.3 million and import to $1.9 billion. It should be noted that trade turnover between two countries amounted to $3 billion in 2019.

Likewise, during the reported period, Azerbaijan's top five trading partners were Italy, Turkey, Russia, China with the trade of $1.8 billion and Germany with $817.5 million.

Furthermore, the country's top five trading partners in terms of export during the reported period were Italy, Turkey, Russia, Greece with $523.3 million and Croatia with $470.8 million. 

In the meantime, Azerbaijan's top five trading partners in terms of import during the first ten months of the year were Russia, Turkey, China with $1.4 billion, the U.S. with $635.9 million and Germany with $583.4 million.

During the year, the country’s foreign trade turnover amounted to $24.4 billion. Of the total turnover, export amounted to $13.7 billion or 56.1 percent, while import to $10.7 billion or 43.8 percent, resulting in the surplus of the $3 billion.