Minister: Azerbaijan's foreign trade turnover up by 74.1 pct

By Azernews

By Ayya Lmahamad

Azerbaijan's foreign trade turnover increased by 74.1 percent in the first five months of the year, Azernews reports with reference to a tweet by Economy Minister Mikayil Jabbarov.

The minister stated that the country's foreign trade turnover equaled $20.57 billion during the reporting period.

"In January-May this year, the #foreigntrade turnover increased by 74.1%, compared to the same period last year, and equaled to 20.57 bln. dollars, while #exports increased by 2.1 times to 15.42 bln. dollars. An increase in exports means growing production, #investment, and employment," he wrote.

Earlier, it was reported that in the first five months of the year, the country's trade turnover amounted to $20.5 billion. Of the total turnover, export amounted to $15.4 billion or 75 percent, while import was $5.1 billion or 24.9 percent, resulting in a surplus of $10.2 billion.

Azerbaijan's main export transactions during the reporting period were with Italy ($7.5 billion), Turkey ($1.6 billion), Israel ($858 million), India ($796.9 million), and Greece ($478.4 million).

Over the past five months, Azerbaijan's main import partners were Russia ($968 million), Turkey ($851.8 million), China ($762.8 million), Kazakhstan ($231.3 million), and Germany ($225.4 million).