The share of the 15 countries accounts for about 80% ($ 11.7 billion) of foreign trade turnover for the first five months of this year. The share of the 15 most active trading partner countries in the export structure reaches 88%, the State Customs Committee told Turan.
In trade relations with five countries (Italy, Russia, Indonesia, Germany and Thailand) the turnover has topped $ 1 billion. With only Russia and France, Azerbaijan has a unique comparative balance. First, this year Russia exported goods worth $ 544 million and imported goods for $ 120 million more. Import-export operations with France were $ 334.4 million $ 394.5 million, respectively.
Based on the results of five months of this year, Russia is the second largest foreign trade turnover of Azerbaijan with $ 1,116 million, ahead of Turkey ($ 804 million) by 39%. In the structure of export of Azerbaijan, these countries share the first and second place, respectively, with 14.3% and 13.1% share. Italy, a traditional customer of Azeri oil in Europe retains primacy in the structure of trade turnover of Azerbaijan with $ 2 billion 426 million or 16.4%. - 08D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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