Azerbaijan's foreign trade hits $16.8bn

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $16.8 billion in January-April 2022, Azernews reports, citing the State Statistics Committee.

Out of the total turnover, exports amounted to $12.7 billion or 76 percent, while imports amounted to $4 billion or 24 percent. Overall, the country's foreign trade turnover resulted in a surplus of $8.7 billion.

Compared to the first four months of 2021, the country's foreign trade turnover increased by 73.9 percent in actual prices and by 9.8 percent in real terms.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 155 countries. Goods were exported to 104 countries and imported from 144 countries.

During the reporting period, exports of non-oil and gas products increased by 38.5 percent in actual terms and by 25 percent in real terms and amounted to $965.5 million.

Italy accounted for 37.4 percent of Azerbaijan's total trade turnover, Turkey for 12.3 percent, Russia for 5.6 percent, China for 4 percent, and Israel for 3.5 percent.

The top five countries importing Azerbaijani products were Italy with 49.3 percent of exports, Turkey with 10.7 percent, Israel with 4.6 percent, Portugal and the UK with 3.4 percent, and Greece with 3.1 percent.

In terms of the non-oil and gas products exports, the most export volume accounts for Turkey (34.6 percent), Russia (19.9 percent), Georgia (6.3 percent), Switzerland (5.3 percent), and the U.S. (4.1 percent).

Azerbaijan's top importers are Russia with 17.2 percent, Turkey with 17 percent, China with 15.4 percent, Kazakhstan with 5 percent, and Germany with 4.6 percent.