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Azerbaijan sees surge in trade turnover with European countries

Finance Materials 17 September 2022 11:36
Baku, Azerbaijan Trend News Agency
Azerbaijan sees surge in trade turnover with European countries

The trade turnover of Azerbaijan with European countries exceeded $18.33 billion from January through August 2022, while the share of these countries in Azerbaijan’s total foreign trade turnover amounted to 52.2 percent, Trend reports citing the Azerbaijani State Customs Committee (SCC).

Comparative table of trade turnover between Azerbaijan and European countries:

January through August 2022

January through August 2022

Country

Export ($)

Share (percent)

Country

Import ($)

Share (percent)

Germany

$273.38 million

1.04

Germany

$397.08 million

4.48

Austria

$90.6 million

0.35

Austria

$50.55 million

0.57

Belgium

$2.3 million

0.01

Belgium

$42.6 million

0.48

Bulgaria

$83.26 million

0.32

Bulgaria

$25.04 million

0.28

Czech Republic

$587.8 million

2.24

Czech Republic

$36.9 million

0.42

Denmark

$65,520

-

Denmark

$15.16 million

0.17

Estonia

$1.57 million

0.1

Estonia

$4.5 million

0.05

Finland

$359,110

-

Finland

$47.1 million

0.53

France

$47.7 million

0.18

France

$152.77 million

1.72

Croatia

$596.15 million

2.27

Croatia

$10.8 million

0.12

Ireland

$203.78 million

0.78

Ireland

$18.5 million

0.21

Spain

$434.06 million

1.65

Spain

$51.6 million

0.58

Sweden

$18.28 million

0.07

Sweden

$33.69 million

0.38

Italy

$12.8 billion

48.88

Italy

$202.9 million

2.29

Cyprus

$8.58 million

0.03

Cyprus

$1.4 million

0.02

Latvia

$13.27 million

0.05

Latvia

$12.8 million

0.14

Lithuania

$5.79 million

0.02

Lithuania

$14.6 million

0.16

Luxembourg

$33.9 million

0.13

Luxembourg

$3.46 million

0.04

Hungary

$1.02 million

-

Hungary

$28.03 million

0.32

Malta

$262,120

-

Malta

$64,140

-

Netherlands

$39.5 million

0.15

Netherlands

$65.9 million

0.74

Poland

$4.35 million

0.02

Poland

$70.8 million

0.8

Portugal

$546.9 million

2.08

Portugal

$9.07 million

0.1

Romania

$237.9 million

0.91

Romania

$54.6 million

0.62

Slovakia

$246,860

-

Slovakia

$32.6 million

0.37

Slovenia

$264,200 million

-

Slovenia

$12.55 million

0.14

Greece

$863.03 million

3.29

Greece

$12.57 million

0.14

Total

$11.5 billion

62.41

Total

$985.5 million

15.5

In the reporting period, Azerbaijan's trade turnover with European countries grew by 2.16 times, or $9.8 billion on an annual basis.

Azerbaijan's foreign trade turnover increased by 73.1 percent from January through August 2022 or $14.8 billion compared to the same period of 2021, from $20.28 billion to $35.1 billion.

The exports accounted for $26.2 billion of foreign trade turnover, which was $13.309 billion (102.89 percent) more than in the first eight months of 2021. The share of exports in foreign trade turnover amounted to 74.74 percent against 63.77 percent a year earlier.

Azerbaijan's imports increased by $1.5 billion or 20.67 percent in the reporting period, from $7.34 billion to $8.8 billion. The share of imports in foreign trade turnover amounted to 25.26 percent against 36.23 percent a year earlier.

Thus, the positive balance of foreign trade turnover rose above $11.79 billion or 3.11 times year on year, up to $17.376 billion (against $5.585 billion from January through August 2021).

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