PremiumForeign trade of Azerbaijan (january-october 2010)

In January-October 2010, Azerbaijan's foreign trade turnover with 143 countries comprised $22.502 billion. The amount of export increased by 50.2% as compared to last year and comprised $17.357mln, while import increased 3.57%, totaling $5.136mln. Azerbaijan exported 2,022 types of goods and imported 5,818. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $12.228bln. 

In January-October 2010, the highest level of export fell on June - $2068.4mln and the lowest on March - $1287.9mln. As to import operations the highest level of import was observed in May ($642.7mln) and the lowest in February ($345.3mln).

In January to October 2010, increase was recorded in all types of exported products of the country, except vegetable, fruits 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. And the decrease in the export of vegetables and fruits is seasonal. 

Exports of cotton, which was resumed in September after full interruption in June, was doubled in October. In January-October, 2,224,4 tons of cotton were exported, accounting for 0.01% of total exports In January-October, the average cotton export price was $1123,31 per ton.

Structure of export in January-October 2010

Source: State Statistics Committee

In this period the highest amount of export fell on Italy. Thus, in 2010 Azerbaijan exported commodities to Italy totaling $5.503mln which makes up 31.69% of total exports. Mainly oil and oil products are exported to this country. Italy is followed by France ($1.667bln) and Israel ($1.456bln). 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 $16.408mln (94.49%), private sector held $878.5mln (5.06%). The share of export operations by physical entities comprised $78.9mln (0.45%).   

Main types of products exported from Azerbaijan,
January-October 2010

Source: State Customs Committee

An increase was recorded in imported products in January-October 2010. Strengthening of the national currency, which is observed in Azerbaijan, had a positive effect on imports, that is, imports become cheaper. Buying products in other countries for U.S. dollar and selling them in country for local currency bring additional benefits. The greatest growth was observed in imported consumer goods, timber, foodstuffs, furniture, and the lowest - in machinery and equipment and pharmaceutical products.

Structure of import in January-October 2010

Source: State Statistics Committee

The traditional domination of three countries in import seems to be as: Russia ($872.4mln), Turkey ($603.3mln) and Germany ($442.9mln).  

Some 24.53% of import operations, or $1259.8mln fell on public sector, 70.23% or $3607.6mln - private sector, while 5.24% or $269.3mln - on physical entities.

Main types of products imported into Azerbaijan
January-October 2010

Source: State Customs Committee

In total, 6,867 legal entities (3,322) and physical entities (3,445) participated in the foreign trade operations.

In January-October 2010, Azerbaijan imported goods amounting to $1598.8mln (31.12% out of the total volume of the country's import) from the CIS countries. CIS exported to Azerbaijan grains (15.26%), ferrous metal (9.93%), equipment and mechanical rigs (10.42%).  

Amount of the Azerbaijani goods exported to CIS countries totaled $1608.9mln (9.26% out of the total volume of the country's export). Azerbaijan exported to CIS fuel, oil products, bitumen minerals (58.38%), fruits (2.67%), animal and vegetable oil (8.71%) and other.

The black ink in import-export operations with CIS countries totaled $10.1mln.