Azernews.Az

By Ayya Lmahamad

The volume of Azerbaijan’s foreign trade turnover amounted to $15.6 billion during the period of January-August 2020, the State Statistics Committee has reported.

Of total volume of trade turnover, export amounted to $8.9 billion or 57.3 percent, while import amounted to $6.6 billion or 42.7 percent. Thus, foreign trade turnover resulted in a surplus of $2.2 billion.

Foreign trade turnover decreased by 29.8 percent in actual terms and by 22.9 percent in real terms, compared to the same period of 2019. In the meantime, import decreased by 42.2 percent and export by 8.9 percent.

Legal entities and individual entrepreneurs in the country carried out trade operations with partners in 175 countries. Goods were exported to 105 countries and imported from 162 countries.

Moreover, during the reporting period, the export of non-oil and gas products amounted to $1.1 billion, with a decrease by 9.7 percent in actual prices and by 18.4 percent in real terms, compared to the same period last year.

Top five countries importing Azerbaijani products were Italy with 31.2 percent of exports, Turkey with 19.4 percent, Russia with 4.7 percent, China and India with 4.2 percent. Georgia accounted for 4 percent of Azerbaijan’s total export volume.

Likewise, in terms of non-oil and gas products export, the most export volume accounts for Russia with 39 percent, Turkey with 19.7 percent, Switzerland with 12 percent, Georgia with 8 percent and China with 2.8 percent. Italy’s share in non-oil and gas products export amounted to 1.8 percent.

Additionally, leading countries in terms of imported goods to the country are Russia with 18.7 percent, Turkey with 14.7 percent, China with 13.3 percent, the United States with 7.4 percent and Germany with 5.3 percent. Italy accounts for 4.1 percent in total value of imported goods.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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