Country's foreign trade hits $12.1bn

By Azernews

The volume of Azerbaijan’s foreign trade turnover amounted to $12.1 billion in January-March 2022, the State Statistics Committee has reported.

Out of the total turnover, exports amounted to $9.2 billion or 76 percent, while imports amounted to $2.9 billion or 24 percent. Overall, the country's foreign trade turnover resulted in a surplus of $6.3 billion.

Compared to the first quarter of 2021, the country's foreign trade turnover increased by 1.7 times in actual prices and by 9.512.8 percent in real terms.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 152 countries. Goods were exported to 100 countries and imported from 140 countries.

During the reported period, exports of non-oil and gas products increased by 45 percent in actual terms and by 32.1 percent in real terms and amounted to $727.2 million.

Italy accounted for 36.3 percent of Azerbaijan's total trade turnover, Turkey for 13.2 percent, Russia for 5.8 percent, China for 4.4 percent and Ukraine for 3.7 percent.

The top five countries importing Azerbaijani products were Italy with 48.8 percent of exports, Turkey with 12 percent, Portugal with 4.9 percent, Israel with 4.1 percent, and Ukraine with 4 percent.

In terms of the non-oil and gas products export, the most export volume accounts for Turkey (35.1 percent), Russia (20.5 percent), Georgia (6.5 percent), Switzerland (4.6 percent), and the U.S. (4 percent).

Azerbaijan's top importers are Turkey with 16.5 percent, Russia with 16.3 percent, China with 16.1 percent, Kazakhstan with 6 percent, and Germany with 4.4 percent.