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Iteca Caspian - Azerbaijan increases number of foreign trade partners

Azerbaijan increases number of foreign trade partners
25.11.2016

Some 174 countries became Azerbaijan’s foreign trade partners in January-October 2016 compared to 158 countries in the same period of 2015, the country’s State Customs Committee said in a report.

According to the report, 11,451 legal entities and individuals (of them 4,777 legal entities and 6,674 individuals) were involved in the country’s foreign economic activities.

Azerbaijan’s foreign trade operations decreased by 23.22 percent and reached $14.15 billion in January-October 2016 as compared to the same period of 2015, said the State Customs Committee.

The reporting period of 2016 completed with a positive balance of $237.7 million, while a surplus of $2.3 billion was observed as of October 2015.

Azerbaijan exported products worth almost $7.2 billion (a decrease by 34.48 percent for the year) in January-October 2016.

The share of public sector in the exports amounted to $5.7 billion, while the share of private sector – over $1.3 billion and individuals - $189.2 million.

The country’s imports reached almost $7 billion in January-October 2016, that is, 6.64 percent less than in January-October 2015. The public sector’s share in imports totaled $969.2 million, and the share of private sector - $5.59 billion and individuals - $398.03 million.

Azerbaijan exported 2,717 kinds of goods and imported 7,109 kinds of goods in January-October 2016.