In January-March 2010, Azerbaijan's foreign trade turnover with 112 countries comprised $5667.7 million. The amount of export increased by 81.65% as compared to last year and comprised $4509.3mln, while import declined 12.16%, totaling $1158.4mln. Azerbaijan exported 995 types of goods and imported 4,050. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $3350.8mln.
In this period the highest level of export fell on February - $1788.6mln and the lowest on March - $1292.6mln. As to import operations the highest level of import was observed in March ($449.2mln) and the lowest in February ($345.2mln).
In January to March 2010, decrease was recorded in all types of exported products of the country, except tobacco and aluminum. However, the decrease in exports of aluminum is not associated with a reduction in the production of aluminum in the country, but vice-versa, the production of this product has grown and will grow each year thanks to a loan from the Central Bank of Azerbaijan for development of aluminum industry. Aluminium has a high export potential and reduction resulted from the fact that during the global crisis, the purchasing capacity in importing countries has decreased.
Azerbaijan continues to restore the position of producer and exporter of cotton. Cotton exports during the year increased by 51.87 percent compared with last year. The increase is explained through high prices per ton. In 2009, Azerbaijan exported cotton in average price of $993.48 per ton, but in November the price rose to $1121.1.
Structure of export in January-March 2010
|
Product |
Percentage in export (%) |
As compared to 2010, in % |
|
Crude oil |
84,61 |
185,84 |
|
Oil products |
6,72 |
136,51 |
|
Aluminum |
0,02 |
8,80 |
|
Fruits and vegetables |
0,33 |
100,75 |
|
Fat and vegetable oil |
0,61 |
374,27 |
|
Chemical products |
0,31 |
407,89 |
|
Cotton |
0,05 |
151,87 |
|
Alcohol and alcohol free drinks |
0,10 |
256,92 |
|
Tobacco and tobacco products |
0,02 |
93,26 |
|
Others |
6,00 |
Source: State Statistics Committee
In this period the highest amount of export fell on Italy. Thus, in 2010 Azerbaijan exported commodities to Italy totaling $1764.4mln which makes up 39.13% of total exports. Mainly oil and oil products are exported to this country. Italy is followed by Israel ($347.4mln) and Israel ($318.2mln). Italy has maintained its leading position since 2008 excluding early three months. Turkey took a lead in January and U.S. in February and March 2008.
The share of public sector in exports made up $4197.1mln (93.08%), private sector held $300.7mln (6.67%). The share of export operations by physical entities comprised $11.3mln (0.25%).
In imports of goods in the first quarter of 2010 the greatest growth was observed on consumer goods, timber, foodstuffs, furniture, and the lowest on machinery and equipment, vehicles and spare parts for them.
Reduction of import of cars to Azerbaijan during the reported period is connected with influence of global financial crisis when car sale reduced because of restriction of credits by the banks. In addition, the ban on importing cars not meeting ecological and operation standards caused the reduction in car import. According to the data provided by the State Customs Committee, in January-March 2010, car import to Azerbaijan made up 12.34 percent of all imports, totaling 1158.4 million manat.
Structure of import in January-March 2010
|
Product |
Percentage in exports (%) |
As compared to 2009, in% |
|
Machine and equipment |
27,77 |
72,99 |
|
Ferrous metal and wares of them |
7,44 |
76,62 |
|
Foodstuffs |
17,63 |
107,37 |
|
Consumer goods |
0,77 |
100,64 |
|
Transport conveyances and spare parts to it |
12,34 |
79,42 |
|
Furniture |
0,89 |
105,28 |
|
Forest products |
2,81 |
298,51 |
|
Pharmaceutical products |
1,92 |
91,76 |
|
Other |
28,43 |
Source: State Statistics Committee
The traditional domination of three countries in import seems to be as: Russia ($213.4mln), China ($130.6 million) and Turkey ($127.7mln).
Some 28.08% of import operations, or $325.3mln fell on public sector, 65.78% or $761.9mln - private sector, while 6.14% or $71.1mln - on physical entities.
In total, 3,393 legal entities (2,149) and physical entities (1,244) participated in the foreign trade operations.
In January-March 2010, Azerbaijan imported goods amounting to $380.8mln (32.87% out of the total volume of the country's import) from the CIS countries. CIS exported to Azerbaijan grains (12.71%), land vehicles (10.65%), equipment and mechanical rigs (11.45%).
Amount of the Azerbaijani goods exported to CIS countries totaled $420.5mln (9.33% out of the total volume of the country's export). Azerbaijan exported to CIS mineral fuel, oil products, bitumen minerals (41.03%), vegetables, animal and vegetable oil (12.74%) and other.
The red ink in import-export operations with CIS countries totaled $39.7mln.