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Azerbaijan's trade turnover with European countries down

Economy Materials 15 February 2023 18:32
Trend News Agency
Azerbaijan's trade turnover with European countries down

BAKU, Azerbaijan, February 15. The trade turnover of Azerbaijan with European countries exceeded $1.4 billion in January 2023, while the share of these countries in Azerbaijan’s total foreign trade turnover accounted for 43.1 percent, Trend reports citing the Azerbaijani State Customs Committee.

Trade turnover between Azerbaijan and European countries:

January 2023

Country

Export ($)

Share (percent)

Import ($)

Share (percent)

Germany

95.05 million

9.18

65.6 million

17.14

Austria

52.5 million

5.08

5.3 million

1.39

Belgium

67.460

0.01

7.5 million

1.98

Bulgaria

1.7 million

0.17

2.4 million

0.65

Czech Republic

80.7 million

7.80

8.2 million

2.14

Denmark

0.00

0.00

2.1 million

0.56

Estonia

71.370

0.01

366.050

0.10

Finland

19.800

0.00

1.7 million

0.47

France

1.2 million

0.12

185.07 million

48.35

Croatia

8.690

0.00

157.420

0.04

Ireland

55.3 million

5.35

1.8 million

0.48

Spain

18.5 million

1.80

5.5 million

1.46

Sweden

125.400

0.01

4.03 million

1.06

Italy

604.8 million

58.43

47.7 million

12.49

Cyprus

4.6 million

0.45

72.270

0.02

Latvia

801.210

0.08

1.5 million

0.40

Lithuania

28.720

0.00

2.02 million

0.53

Luxemburg

32.170

0.00

324.500

0.08

Hungary

80.130

0.01

2.9 million

0.77

Malta

327.210

0.03

480

0.00

Netherlands

41.1 million

0.40

9.1 million

2.40

Poland

2.2 million

0.22

13.2 million

3.47

Portugal

0.00

0.00

980.710

0.26

Romania

57.2 million

5.53

3.2 million

0.85

Slovakia

250

0.00

6.05 million

1.58

Slovenia

1.3 million

0.13

3.4 million

0.90

Greece

53.8 million

5.20

1.6 million

0.44

Total

1.03 billion

100

382.7 million

100

In January 2023, Azerbaijan's trade turnover with European countries decreased by 34.53 percent, or by $747.875 million year-on-year.

Azerbaijan's foreign trade turnover decreased by 19 percent, or $772 million, in January 2023 compared to the same month in 2022, from $4.061 billion to $3.289 billion.

According to the committee, in the structure of foreign trade turnover, exports accounted for $1.877 billion, which is $1.21 billion, or 1.64 times less than in the same month of 2022. The share of exports in foreign trade turnover was 57.06 percent, against 76 percent a year earlier.

Azerbaijan's imports in the reporting month increased by $437.83 million, or 44.9 percent on an annual basis, from $974.86 million to over $1.412 billion. The share of imports in foreign trade turnover amounted to 42.94 percent, against 24 percent a year earlier.

As a result, during the reporting month, the balance of foreign trade turnover, while remaining positive, decreased year-on-year by more than $1.648 billion, or 3.5 times, to $464 million against $2.112 billion in January 2022.

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