Foreign Trade Turnover of Azerbaijan Continues to Decline

In the first ten months of this year, the volume of foreign trade turnover amounted to $ 26.5 billion, which is 7.7% less than in the comparable period of 2013. Foreign trade surplus was $ 11.8 billion.

From the beginning of 2014, Azerbaijan had trade relations with 146 countries. According to the report promulgated by the State Customs Committee (SCC), the volume of exports from Azerbaijan ($ 19.2 billion) decreased by 3.6%.

Crude oil exports ($ 16.3 billion) decreased by 3.4%, natural gas ($257 million) – by 57.2%. Exports of petroleum, taking into account the fuel filled by aircraft of foreign airlines in Azerbaijan amounted to $ 1 billion 183 million, which is 20.4% more than in the comparable period of 2013.

The share of raw hydrocarbons and their products in the export structure of the country amounted to 92.4%.

Certain growth was recorded for exports of fruit and vegetables (+ 24%), plastic and rubber products (+ 31.5%), chemical products (+ 26.3%), and alcoholic and soft drinks (+ 11.3%).

The volume of imports of goods amounted to $ 7 billion 362 million, a decline of 17.1%. In the structure of imports especially noticeable is reduction in the supply of vehicles and their spare parts. In annual terms, their imports ($ 637 million) decreased by 48.4%. By $ 200 million reduced supplies of ferrous metals ($ 773 million), by $ 150 million - timber ($ 107,800,000), and by $ 110 million - food products ($ 843 million.). ----08D