Italy Azerbaijan’s largest trade partner in 2021

By Azernews

By Ayya Lmahamad

Italy was Azerbaijan's largest trade partner in the first four months of 2021 with the trade turnover between the two countries amounting to $2.5 billion, the State Customs Committee has reported.

Of the total turnover, the export of Azerbaijani products to Italy amounted to $2.3 billion, while import from Italy was $125.2 million. It should be noted that the trade turnover between the two countries amounted to $2.5 billion during the same months of 2020.

It should be noted that Azerbaijan is one of Italy’s main energy resources suppliers. Around 113 Italian companies, operating in various fields, are registered in Azerbaijan.

Italy was followed by Turkey and Russia in the list of Azerbaijan’s trade partners during the period of January-April 2021.

Turkey was Azerbaijan's second-largest trading partner, with a trade turnover of $1.5 billion. Export from Azerbaijan to Turkey amounted to $1 billion, while import from Turkey amounted to $537.5 million. The trade turnover between Azerbaijan and Turkey amounted to $1.5 billion in January-April 2020.

Russia was Azerbaijan's third-biggest trading partner in the reported period, with a trade turnover of $839.7 million, where export amounted to $197.7 million and import to $641.9 million. It should be noted that trade turnover between the two countries amounted to $804 million in the same months of the last year.

Azerbaijan’s overall trade turnover amounted to $9.8 billion during the first four months of 2021. Of the total turnover, export amounted to $6.3 billion or 64.3 percent, while import was $3.5 billion or 35.6 percent, resulting in a surplus of $2.8 billion.

Azerbaijan's top five trading partners during the reported period were Italy, Turkey, Russia, China with a trade of $553.4 million and India with $403.5 million.

It should be noted that last year, the country's main trade partners were Italy, Turkey, Russia, Greece and Croatia. Total Azerbaijan's trade turnover last year amounted to $24.4 billion.