Azerbaijan's foreign trade surplus hits $1.1bn in Jan-Feb

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $1.1 billion during the first two months of 2021, the State Customs Committee has reported.

During the reported period, the country's trade turnover amounted to $4.3 billion. Of the total turnover, export amounted to $2.7 billion or 63.3 percent, while import was $1.6 billion or 36.6 percent, resulting in a surplus of $1.1 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 142 countries.

In terms of export, EU countries for $1.4 billion or 53.5 percent, CIS countries accounted for $256.3 million or 9.1 percent,  and other countries for $1 billion or 37.2 percent of the total country's export. 

As to the import, CIS countries for $339.1 million or 21 percent, European Union countries accounted for $333.2 million or 20.6 percent and other countries for $939.6 million for 58.2 percent of the total country's import during the first two months of the year.

Furthermore, some 55,649 tons of cargoes were transported by sea, 818,417 tons of cargoes were transported by railway and 620,354 tons of cargoes by car. Some 1,651 tons of cargoes were transported by air in January-February.

In the structure of exports, the main volume came from products of the oil and gas sector with 88.1 percent, while non-oil and gas sector amounted for 11.8 percent of the total export's volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy with $1 billion, Turkey with $302.6 million,  India with $218.5 million, Georgia with $216.5 million and Spain with $176.7 million.

Azerbaijan's main import transactions during the first two months of the year were with Russia with $243.4 million, Turkey with $238.4 million, China with $203.7 million, Germany with $142.5 million and the U.S. with $83.9 million.