Azerbaijan's foreign trade surplus hits $9.3bn in Jan-Nov

By Azernews

By Ayya Lmahamad

Azerbaijan’s foreign trade surplus amounted to $9.3 billion in January-November 2021, the State Customs Committee has reported.

During the first 11 months of the year, the country's trade turnover amounted to $30.2 billion. Of the total turnover, export amounted to $19.7 billion or 65.5 percent, while import was $10.4 billion or 34.4 percent, resulting in a surplus of $9.3 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 186 countries.

In terms of export, the EU countries accounted for $11.4 billion or 58 percent, the CIS countries for $1.6 billion or 8.3 percent, and other countries for $6.6 billion or 33.6 percent of the country's total export. 

As to import, the CIS countries accounted for $2.6 billion or 25 percent, the EU countries accounted for $1.9 billion or 18.4 percent and other countries for $5.8 billion for 56.4 percent of the country's imports during the reported period.

Furthermore, 740,775 tons of cargo worth $657.4 million were transported by sea, 6.3 million tons worth $2.8 billion by railway, and 4.2 million tons worth $8.3 billion of cargo by car. Some 75,306 tons of cargo worth $1.2 billion were transported by air in January-November.

In the structure of exports, the main volume came from products of the oil and gas sector with 88 percent, while the non-oil and gas sector amounted to 11.9 percent of the total export volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy ($8.1 billion), Turkey ($2.5 billion),  Russia ($802.2 million), Israel ($789.6 million) and Croatia ($751.2 million).

Azerbaijan's main import transactions during the first 11 months of the year were with Russia with $1.8 billion, Turkey with $1.6 billion, China with $1.4 billion, Germany with $576.4 million, and Ukraine with $419.4 million.