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EU Azerbaijan's key trade partner

Staff writer |
EU becomes Azerbaijan's key trade partner first time for a couple of years with 50.7% of turnover and 66.8% foreign trade surplus.

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Top 3 of Azerbaijan's key trading partners for January 2014 are Italy, France and Germany and Top 5 are Italy, France, Germany, Indonesia and Russia. For the first time for a couple of years the EU has become absolute main trade partner of Azerbaijan.

The State Customs Committee (SCC) reported that this January the non-aligned countries (states out of EU and CIS), earlier the key partners of the country, formed Azerbaijan's foreign trade turnover totaled 40.87% or $983.3 million, and the EU countries 50.74% ($1.2 bn). Only 8.39% or $201.87 million accounted for CIS member states.

For comparison, in 2013 Azerbaijan's foreign trade turnover with the CIS counterparts made up 11.75%, 10.82% in 2012, 15.1% in 2011, 14.47% in 2010, 16.15% in 2009 and 7.21% in 2008 (pre-crisis for Azerbaijan).

In January Azerbaijan exported to the CIS countries commodities for $1.056 bn (56.46% of entire export ($1.87 bn)) with a rise of 4.34% and imported from the EU for $164.527 million (a fall of 24.59% and 30.75% of entire import of $535 million). As a result, the country had positive balance of $892 million in trade with the EU countries or 66.76% of net surplus of country's foreign trade ($1.336 bn).

This January export to the non-aligned countries dropped by 6.67% to $736.68 million or 39.38% of total export, while import grew by 2.59% up to $246.6 million or 46.09% of the total import. As a result, the country received $490 million of positive balance with these countries.

Export to CIS countries amounted only to $77.905 million (4.16% of total export) with a decline of 35.69% and import $123.966 bn (23.17%) with a fall of 26.36%. As a result, the country had negative balance of trade with them for $46 million.

As of February 1, 2014 Top 5 of key trade partners of Azerbaijan are: Italy with total turnover of $455.015 million (import from Azerbaijan for $435.107 million and export for $19,907 million), France $249.069 million ($242.78 million and $6.285 million respectively), Germany $225.446 million ($184.002 million and $41.4 million), Indonesia $215.019 million ($211.4 million and $3.619 million) and Russia $145.566 million ($65.699 million and $79.867 million).

Israel was the sixth trade partner of Azerbaijan with mutual trade turnover of $143.99 million (import from Azerbaijan for $143.169 million and export for $821,000). Then follow Turkey ($135.187 million, $39.046 million, $96.1 million respectively), Taiwan ($118.726 million, $118.37 million, $455,000), Portugal ($117.6 million, $117.506 million, $95,000) and Thailand ($114.465 million, $113.838 million, $627,000).

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