BAKU, Azerbaijan, January 22. Azerbaijan's trade turnover with the top 10 countries (main trade partners) in 2024 amounted to $13.4 billion, representing a 12.44 percent, or $4.8 billion, decrease over the year, Trend reports.
The share of trade turnover with the top 10 trading partners in the total Azerbaijani foreign trade turnover amounted to 71.14 percent.
Data obtained from the State Customs Committee of Azerbaijan shows that Italy retained the status of the largest trade partner of Azerbaijan, with trade turnover at the level of $11.3 billion, a drop of 27.38 percent over the year. It is followed by Türkiye with over $6.13 billion (a 19.87 percent decrease over the year) and Russia with $4.7 billion (10.12 percent decrease over the year).
| From January through December 2024, Top-10 | From January through December 2023, Top-10 | ||||
| Country | Trade turnover | Share in total turnover, % | Country | Trade turnover | Share in total turnover, % |
| Italy | $11.3 billion | 61,78 percent | Италия | $15.6 billion | 68,34 percent |
| Türkiye | $6.1 billion | 33,25 percent | Турция | $7.65 billion | 33,33 percent |
| Russia | $4.79 billion | 26,03 percent | Россия | $4.35 billion | 18,99 percent |
| China | $3.74 billion | 20,31 percent | Китай | $3.1 billion | 13,51 percent |
| US | $1.75 billion | 9,51 percent | Германия | $1.82 billion | 7,95 percent |
| Germany | $1.6 billion | 8,69 percent | Израиль | $1.44 billion | 6,29 percent |
| Australia | $1.46 billion | 7,93 percent | Индия | $1.43 billion | 6,25 percent |
| Czech Republic | $1.15 billion | 6,25 percent | Греция | $1.39 billion | 6,08 percent |
| India | $958.3 million | 5,20 percent | США | $904.1 million | 3,94 percent |
| Croatia | $878.7 million | 4,77 percent | Испания | $888.5 million | 3,87 percent |
To note, Azerbaijan's foreign trade turnover in 2024 decreased by 6.98 percent, or $3.5 billion, compared to the same period in 2023 (from $51.1 billion to $47.6 billion).
Within the foreign trade turnover structure, exports totaled $26.5 billion, marking a decrease of $7.34 billion, or 21.67 percent, compared to the corresponding period last year. Export's share in the foreign trade turnover stood at 55.77 percent, down from 66.23 percent recorded a year earlier.
Azerbaijan's imports for the reported period saw a year-on-year increase of $3.7 billion , or 21.83 percent, rising from $17.2 billion to approximately $21 billion. Imports' share in the foreign trade turnover amounted to 44.23 percent, compared to 33.77 percent in the previous year.
Consequently, although maintaining a positive balance in the foreign trade turnover, there was a year-on-year decline of over $11.1 billion, or 66.92 percent, resulting in a total of $5.4 billion compared to $16.6 billion in the review period of 2023.