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Friday, 14 May 2021 08:18 GMT

Azerbaijan's foreign trade surplus hits $1.6bn


(MENAFN - AzerNews) By Ayya Lmahamad

Azerbaijan's foreign trade surplus amounted to $1.6 billion during the first quarter of 2021, the State Customs Committee has reported.

During the reported period, the country's trade turnover amounted to $6.6 billion. Of the total turnover, export amounted to $4.1 billion or 62 percent, while import was $2.5 billion or 37.9 percent, resulting in a surplus of $1.6 billion.

Moreover, legal entities and individual entrepreneurs in the country carried out trade operations with partners in 153 countries.

In terms of export, EU countries accounted for $1.9 billion or 47.4 percent, CIS countries for $358.5 million or 8.6 percent and other countries for $1.8 billion or 43.9 percent of the total country's export. 

As to the import, CIS countries for $609.2 million or 24 percent, European Union countries accounted for $483.4 million or 19.1 percent and other countries for $1.4 billion for 56.8 percent of the total country's import during the first three months of the year.

Furthermore,  85,674 tons of cargoes were transported by sea, 1.4 million tons by railway and 991,058 tons of cargoes by car. Some 2,474 tons of cargoes were transported by air in January-March.

In the structure of exports, the main volume came from products of the oil and gas sector with 87.8 percent, while non-oil and gas sector amounted for 12.1 percent of the total export's volume.

Additionally, during the reported months, Azerbaijan's main export transactions were with Italy with $1.4 billion, Turkey with $739.3 million,  India with $349.4 million, Georgia with $261.3 million and Spain with $182.1 million.

Azerbaijan's main import transactions during the first three months of the year were with Russia with $449.8 million, Turkey with $378.8 million, China with $312.4 million, Germany with $185 million and the U.S. with $116.8 million.

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

Follow us on Twitter @AzerNewsAz  

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