BAKU, Azerbaijan, April 19. Azerbaijan's total trade turnover with its top ten trading partners totaled $8.6 billion from January through March 2023, which is 2.6 percent, or $219.322 million more on an annual basis, Trend reports via the Azerbaijani State Customs Committee.
In the reporting period, Italy ranks first among Azerbaijan's trading partners with a turnover of $2.973 billion (a decrease of 24.98 percent year-over-year), followed by Türkiye with a turnover of over $1.621 million (an increase of 12.34 percent) and Russia – $1.057 billion (up by 67.45 percent).
TOP 10 trading partners of Azerbaijan:
|
from January through March 2023 |
from January through March 2022 |
||||
|
Country |
Trade turnover ($) |
Share (percent) |
Country |
Trade turnover ($) |
Share (percent) |
|
Italy |
$2.973 billion |
25.26 |
Italy |
$3.9 billion |
36.33 |
|
Türkiye |
$1.621 billion |
13.77 |
Türkiye |
$1.4 billion |
13.23 |
|
Russia |
$1.057 billion |
8.98 |
Russia |
$631.3 million |
5.79 |
|
China |
$625.02 million |
5.31 |
China |
$481.4 million |
4.41 |
|
Germany |
$461.2 million |
3.92 |
Ukraine |
$402.4 million |
3.69 |
|
Israel |
$450.03 million |
3.82 |
Portugal |
$393.01 million |
3.60 |
|
Spain |
$415.7 million |
3.53 |
Israel |
$338.05 million |
3.10 |
|
Greece |
$373.7 million |
3.18 |
Greece |
$288.01 million |
2.64 |
|
India |
$370.3 million |
3.15 |
Georgia |
$257.8 million |
2.36 |
|
Romania |
$317.3 million |
2.7 |
Thailand |
$247.3 million |
2.27 |
During the reporting period, Azerbaijan mainly imported products from Russia - $796.29 million (the share in total imports is 19.76 percent), China - $589.1 million (14.62 percent), Türkiye - $563.8 million (13.99 percent), France - $221.9 million (5.51 percent) and Germany - $201.6 million (5 percent).
Azerbaijan's foreign trade turnover increased by $863.1 million (7.91 percent) from January through March 2023 compared to the same period of the previous year, from $10.9 billion to $11.7 billion
According to the committee, out of the total foreign trade turnover, exports accounted for $7.7 billion, which is $239.59 million (three percent) less than the same period last year. The share of exports in the foreign trade turnover totaled 65.77 percent against 73.17 percent a year earlier.
Azerbaijan's imports in the first quarter of this year increased by $1.1 billion (37.67 percent), from $2.9 billion to about $4 billion. The share of imports in foreign trade turnover amounted to 34.23 percent against 26.83 percent a year earlier.
As a result, in the reporting period, the balance of foreign trade turnover, remaining positive, decreased by more than $1.3 billion (26.56 percent) on annual basis, to $3.7 billion against $5 billion in the same period of the previous year.