BAKU, Azerbaijan, March 22. Azerbaijan's total trade turnover with its top 10 trading partners decreased from January through February 2023, Trend reports via the State Customs Committee.
According to the committee, this figure amounted to $5.2 billion, down by $876.1 million (14.36 percent) on annual basis.
In the first two months of this year, Italy ranked first among Azerbaijan's trading partners with a turnover of $1.39 billion (a drop of 55.22 percent year on year), followed by Türkiye with a turnover of over $895.38 million (a decrease of 4.07 percent) and Russia – $761.5 million (up by 87.88 percent).
TOP 10 trading partners of Azerbaijan:
|
2M2023 |
2M2022 |
||||
|
Country |
Trade turnover |
Share (%) |
Country |
Trade turnover |
Share (%) |
|
Italy |
$1.39 billion |
19.47 |
Italy |
$3.1 billion |
39.27 |
|
Türkiye |
$895.38 million |
12.49 |
Türkiye |
$933.4 million |
11.76 |
|
Russia |
$761.5 million |
10.62 |
Russia |
$405.3 million |
5.10 |
|
China |
$400.9 million |
5.59 |
Ukraine |
$331.2 million |
4.17 |
|
Germany |
$378.7 million |
5.28 |
China |
$310.58 million |
3.91 |
|
Israel |
$334.1 million |
4.66 |
Israel |
$264.4 million |
3.33 |
|
Spain |
$289.37 million |
4.04 |
Greece |
$206.4 million |
2.6 |
|
Romania |
$270 million |
3.77 |
Portugal |
$183.29 million |
2.31 |
|
France |
$257.3 million |
3.59 |
Georgia |
$175.4 million |
2.21 |
|
India |
$241.38 million |
3.37 |
Thailand |
$172.5 million |
2.17 |
During the reporting period, Azerbaijan imported most of products from Türkiye – in the amount of $312.26 million (with 15.83 percent share in total imports), followed by China - $300.6 million (15.24 percent), Russia - $282.3 million (14.31 percent), Kazakhstan - $156.1 million (7.92 percent) and Germany - $89.58 million (4.54 percent).
Overall, foreign trade turnover of Azerbaijan amounted to $7.17 billion in the first two months of 2023, which is a decrease of 9.7 percent or $768.8 million compared to the same period of 2022 ($7.94 billion).
Out of the total foreign trade turnover, exports accounted for $4.52 billion, which is $1.4 billion, or 24.25 percent less than the same period last year. The share of exports in the foreign trade turnover totaled 63.03 percent against 75.16 percent a year earlier.
Azerbaijan's imports in the reporting period increased by $678.5 million, or 34.4 percent, from $1.9 billion to about $2.6 billion. The share of imports in foreign trade turnover amounted to 36.97 percent against 24.84 percent a year earlier.
As a result, in the reporting period, the balance of foreign trade turnover, remaining positive, decreased by more than $2.1 billion, or 2.1 times on an annual basis, to $1.8 billion against $3.9 billion in the same period of the previous year.
