Azerbaijan's foreign trade hits $46.6bn in 2022

By Azernews

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $46.6 billion in January-October 2022, Azernews reports, citing the State Statistics Committee.

Out of the total turnover, exports amounted to $35 billion, or 75.2 percent, while imports amounted to $11.5 billion, or 24.8 percent. Overall, the country's foreign trade turnover resulted in a surplus of $23.4 billion.

Compared to the first 10 months of 2021, the country's foreign trade turnover increased by 68.6 percent in actual prices and by 9.3 percent in real terms.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 181 countries. Goods were exported to 121 countries and imported from 169 countries.

During the reporting period, exports of non-oil and gas products increased by 16.2 percent in actual terms and by 6 percent in real terms and amounted to $2.3 billion.

Italy accounted for 37.5 percent of Azerbaijan's total trade turnover, Turkiye for 10.9 percent, Russia for 6.2 percent, India and China for 3.8 percent each, and Israel for 3.3 percent.

The top five countries importing Azerbaijani products are Italy with 49.2 percent of exports, Turkiye with 9.3 percent, India with 4.6 percent, Israel with 4.4 percent, and Greece with 3.9 percent each.

In terms of non-oil and gas products exports, the most export volume accounts for Russia (28.8 percent), Turkiye (24.4 percent), Georgia (6.9 percent), Switzerland (6.4 percent), and Kazakhstan (3.1 percent).

Azerbaijan's top importers are Russia at 18.5 percent, Turkiye at 15.8 percent, China at 14.6 percent, Germany at 4.5 percent, and Kazakhstan at 3.6 percent.