PremiumAzerbaijan reveals 9M2020 trade turnover volumes with major partners

BAKU, Azerbaijan, Oct. 22

By Fidan Babayeva - Trend:

Azerbaijan’s trade turnover with five major partner countries amounted to over $10.6 billion, or 57.9 percent of the country’s overall trade turnover, Trend reports citing the reports of the State Customs Committee of Azerbaijan.

Italy retained the status of the largest trade partner of Azerbaijan with a trade turnover value of $3.41 billion, and with a share of 18.58 percent. Turkey ranks second with an amount of trade turnover of $3.28 billion, or 17.59 percent of Azerbaijan’s trade turnover. It followed by Russia with the trade turnover of $1.93 billion, or with the turnover share of 10.54 percent.

At the same time, the share of China in trade turnover of Azerbaijan amounted to $1.43 billion, and its share - 7.79 percent. Germany took last place with a trade turnover value of $626.8 million and a share of 3.41 percent.

Comparative table of TOP-5 trade partners of Azerbaijan:

During the reporting period, Azerbaijan purchased most of the products from Russia - for $1.44 billion, the share of all imports is 18.4 percent. It is followed by Turkey - $1.13 billion or 14.44 percent, China - $1.01 billion or 12.96 percent, the US - $525.8 million or 6.72 percent, and Germany - 414.9 million or 5.3 percent.

Italy was again the main consumer of Azerbaijani products during this period - in the amount of $3.1 billion or 29.45 percent of all exports; Turkey - $2.1 billion or 19.93 percent, Russia - $499.8 million or 4.72 percent, Greece - $428.7 million or 4.05 percent and China - about $420.2 million or 3.97 percent.

In general, Azerbaijan's foreign trade turnover in the past nine months of 2020 amounted to $18.4 billion, which is 27.1 percent less compared to the same period of 2019.

The balance of foreign trade turnover on an annualized basis decreased by 38.6 percent, but remained positive, amounting to $2.75 billion.

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