The volume of export of Azerbaijani products to Turkey amounted to $2.3 billion, while the import from Turkey amounted to $1.2 billion. Roads connect various parts of the country and are often the only means of land communication between remote mountain districts and the administrative centres and large cities. Navigate parenthood with the help of the Raising Curious Learners podcast. Azerbaijan Major Exports . By Ayya Lmahamad Russia was Azerbaijan's largest trade partner, among CIS countries, in January-October 2020, with a trade turnover of $2.1 billion, the State Customs Committee has reported. In 2018, Azerbaijan's exports per capita were $2k and its imports per capita were $1.2k. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Turkey, Tunis and Iran were the largest trade partners of Azerbaijan among the OIC member countries in January-March this year, according to State Customs Committee. . Spain was Azerbaijan’s largest trade partner among the Spanish-speaking countries in the first ten months of 2020, with trade between the two countries amounting to $398.1 million, the State Customs Committee has reported. The EU is Azerbaijan’s main trading partner, Mr Mustafayev pointed out. Azerbaijan’s primary trading partners are Russia, Turkey, China, and Italy; the country also has trade links with Georgia, Belarus, Britain, Israel, and the Central Asian republics. Few of the rivers of Azerbaijan are navigable, and most freight—including that transported out of the country—is carried by rail and truck. Azerbaijan has been the world’s fastest growing economy in recent years mainly due to its oil and gas development and the liberalisation of its trade system. According to Azerbaijan’s Statistical Committee, goods worth $19.6 billion were exported from Azerbaijan in 2019, an increase of 0.7% over the previous year. … Dec. 2, 2020. Turkey, Russia and Azerbaijan are Georgia’s top trade partners this year, shows the preliminary data from the National Statistics Office of Georgia (Geostat).. Georgia’s top 10 trade partners in January-June 2019 made for 67.2 per cent of the country’s total trade turnover, with Turkey ($843 million), Russia ($677.8 million) and Azerbaijan ($508.9 million) filling the top three spots. Considerable portions of the rail network are electrified. It is an industrial centre, with food, engineering, chemical, and nonferrous metallurgical industries. One of the main reasons for this is that Russia is the primary importer of Azerbaijani agricultural products. Italy, Turkey and Israel are Azerbaijan's main export partners. Agricultural production is concentrated in the mountain valleys. Digital Trade Hub of Azerbaijan- new e-commerce opportunities for foreigners ICT 11:11 Uzbekistan extends benefits, preferences provided to tourism industry amid COVID-19 Tourism 10:51 Oil and other energy products are Azerbaijan’s major exports to other countries, accounting for more than half of its GDP and play an important role in keeping the economy stable and… The volume of export with Turkey made $740,4 million, while it amounted to $120,2 million with Tunis and $88,5 million with Iran, according to official figures. The numerous mountain rivers provide ample supplies of water, and the region is densely populated. Turkey, Tunis and Iran were Azerbaijan's key trade partners among the OIC countries in January-October of this year, according to the country’s State Customs Committee. A thermal power station stands near Äli-Bayramlı. Related websites. The Şäki-Zaqatala region includes the towns of Şäki, Zaqatala, and Balakän. Top trading partners (import sources) of Azerbaijan in 2019: Russia with a share of 16.7% (2.28 billion US$) Turkey with a share of 12% (1.64 billion US$) China with a share of 10.4% (1.43 billion US$) The Naxçıvan region is a typical semidesert, although irrigation has made it possible to cultivate grapes, cotton, and grain. Kazakhstan comes in at third place in Azerbaijan's Top 3 largest trade partners among CIS states. Azerbaijan is the 77th largest export economy in the world and the 84th most complex economy according to the Economic Complexity Index (ECI). As a result of its advantageous geographic position, it is crossed by freight routes connecting Azerbaijan and the whole of Transcaucasia with the North Caucasus and Central Asia. 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Azerbaijan’s primary trading partners are Russia, Turkey, China, and Italy; the country also has trade links with Georgia, Belarus, Britain, Israel, and the Central Asian republics. The towns of Länkäran, Astara, and Masallı are small, and local industry is mostly concerned with the processing of agricultural goods, while in the mountains the Talysh people make colourful rugs and carpets. The second lists top trade partners of Azerbaijan regarding import total (buying). The most important vineyards lie in the vicinity of Şamaxı, a town famed for its wines, notably Matrasa and Shemakha, which are, respectively, dry red and sweet. The southwestern region includes Nagorno-Karabakh and the Laçin, Füzuli, and Qubadlı administrative districts. Iran, United Arab Emirates (UAE), and Saudi Arabia were Azerbaijan's key trade partners among the countries of the Persian Gulf region in January-October of this year, according to the country’s State Customs Committee. Azerbaijan has no trade with Armenia because of the conflict over Nagorno-Karabakh. In addition to oil and gas, UK companies have been successful in areas such as construction management and design, retail and education. Highways run from the peninsula to every corner of the republic. Nagorno-Karabakh conflict, dissolution of the Soviet Union, and presidency of Heydar Aliyev. Global Insights ... View All Export/Import Trade Partners Traded Goods (at the 2-digit HS Code level) Top 10 Export Goods. The best varieties of pomegranates are grown near Göyçay. Motor transport is used extensively for both freight and passengers. Trade routes have crossed this part of Azerbaijan from time immemorial, and the ancient town of Ganja (Gäncä) was founded here. The following types of Azerbaijani product shipments represent positive net exports or a trade balance surplus. EU imports from Azerbaijan chiefly consist of mineral fuels, lubricants and related materials. In the first eight months of this year, exports amounted to $7.9 billion, down 31.5% from the same period last year. Read more: CIS, Commonwealth of Independent States, Caspian News, South Caucasus, export, Belarus, Kazakhstan, economy, trade, Caspian, business, Russia, Azerbaijan The Shirvan region, an industrially and agriculturally developed part of Azerbaijan, is centred on the Shirvan Plain. For achieving a further increase in trade, a special working group has been established between the Ministry of Economy of Azerbaijan and the Ministry of Trade of Pakistan on the development of bilateral investment cooperation. Azerbaijan’s exports are dominated by oil and natural gas, which account for around 95 percent of total export revenues. Azerbaijan has no trade with Armenia because of the conflict over Nagorno-Karabakh. Although it is on the shores of the Caspian Sea, the Abşeron region nevertheless remains one of the most arid parts of Azerbaijan. The region has conditions favourable both for human life and for intensive agriculture. Azerbaijan’s economy is heavily reliant on exports, a factor that had great influence over the impact of the 2009 Global financial and economic crisis. Trade: The top exports of Azerbaijan are Crude Petroleum ($16.1B), Petroleum Gas ($1.52B), Refined Petroleum ($524M), Tomatoes ($177M), and Gold ($151M). That is, most products are imported from these countries to Azerbaijan. Special breeds of sheep are raised; their skins are used in the local fur industry. The Mugano-Salyan region, lying south of the Kura River and within the boundaries of the Mili and Mugan plains, specializes in cotton growing (under irrigation), producing about seven-tenths of the gross cotton output of Azerbaijan. In recent years, Azerbaijan’s trade relations have been shifting away from Russia and towards the European Union. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. Market Value: 47,163 (millions) – Last Updated: June, 2019. In fourth place was China (169 million USD), and Azerbaijan took the fifth position (160 million USD). Another parallels the Caspian Sea north of Baku. Turkey was Azerbaijan's largest trade partner among OIC countries, with a trade turnover of $3.5 billion during the period of January-October 2020, the State Customs Committee has reported. Its coastal lowlands specialize in grain and vegetable production, while vast orchards surround the towns of Quba and Qusar. The Quba-Xaçmaz region lies to the north of Abşeron. Baku owes its modern growth to the development of the oil industry; oil derricks encircle the city, and the oil refineries and processing plants attract workers from many areas. 14, Bakhtiyar Vahabzade, Baku, Azerbaijan, AZ1141. Due to Azerbaijan’s huge energy capacity (oil and gas) Pakistani side as oil importer country considers Azerbaijan as an important trade partner. Benefits for UK businesses exporti… The top ten trade partners of Azerbaijan also includes Russia - 1,081 bln dollars (6%), France - 996,961 mln dollars (5.5%), Turkey - 970,315 mln dollars (5.4%), US - 814,373 mln dollars (4.5%), Israel - 781,507 mln dollars (4.3%), India - 605,690 mln dollars (3.34%) and Spain - 466,187 mln dollars (2.6%). Azerbaijan’s main trading partners are Italy, the United Kingdom, the United States, Turkey, Israel, France, Indonesia, Russia, Germany and India. The real effective exchange rate (REER) reflects the trade-weighted average exchange rate against a basket of the currencies of Azerbaijan’s trading partners, taking into account inflation rates in the relevant countries. Its main natural wealth is mineral, including oil, natural gas, iodobromide waters, and limestone used in building and cement production. The region also produces spring and winter vegetables. During the period the largest importer of Azerbaijan was Italy. Baku, on the Caspian, is a busy seaport, handling such goods as oil, timber, grain, and cotton. The Mingäçevir hydroelectric station is located there. globalEDGE - Your source for business knowledge Menu. Notably, inprevious few years, Azerbaijan has consistently ranked second in the top ten largest trade partners of Georgia, the second only after Turkey. The mountain slopes are used for grazing. Prezi Video + Unsplash: Access over two million images to tell your story through video Azerbaijan Trade Statistics including exports and imports by partner and products, tariffs and relevant development indicators. The area is also a major producer of hazelnuts and walnuts. Turkey was Azerbaijan's largest trade partner among OIC countries, with a trade turnover of $3.5 billion during the period of January-October 2020, the State Customs Committee has reported. Its territory borders the Greater Caucasus range, which shelters it from cold northern winds. Azerbaijan Trade Statistics . Belarus is the second-largest foreign trade partner of Azerbaijan in the CIS region. Read more. The ferry link between Baku and Turkmenbashi (also on the Caspian, in Turkmenistan) augments considerably the amount of cargo passing through Azerbaijan. Modern Sumqayıt, 22 miles (35 kilometres) northwest of Baku, is currently a centre of the iron and steel, nonferrous metallurgical, and chemical industries, although the development of light engineering is envisaged. There are several sources of mineral water in the foothill areas. A major railway line traverses the Kura valley and connects Baku with Tbilisi and Batumi in Georgia. There are currently more than 450 UK companies doing business in Azerbaijan. Animal husbandry constitutes a large percentage of the gross agricultural output, the leading branches being sheep and pig raising. Compare Balance of Trade by Country The first table below shows top trading partners of Azerbaijan in terms of export sales (selling), including Italy, United States, and Israel. By Ayya Lmahamad Italy remained Azerbaijan’s main trading partner in the period between January and September 2020, the State Customs Committee has reported. Blog. In 2017 the GDP of Azerbaijan was $40.7B and its GDP per capita was $17.4k. Azerbaijan Trade Statistics. Naftalan is a health resort. The Abşeron region includes the Abşeron Peninsula and several other areas of eastern Azerbaijan. The volume of export of Azerbaijani products to Turkey amounted to $2.3 billion, while the import from Turkey amounted to $1.2 billion. The UK is already the single largest investor in Azerbaijan and is well placed to increase business. The major trading partner of Azerbaijan among the CIS countries is Russia. “Italy is Azerbaijan's most important trade partner in Europe. Industry is generally engaged in the processing of such agricultural products as cotton, grapes, and fruit. Azerbaijan was part of the Soviet Union until it proclaimed independence in 1991, and Russia has long been an important trading partner for the country of … Azerbaijan is also one of the most significant trading partners of Georgia. Agricultural products include tobacco, aromatic plants (mint, basil, and roses), rice, corn (maize), and various fruits. Overall Azerbaijan achieved a $6 billion trade surplus for 2019, down by -25.2% from the $8 billion in black ink one year earlier. The area also has a well-developed network of roads. Azerbaijan exports chemicals, machinery, food (particularly grapes and other fruits and vegetables), beverages, petroleum and natural gas, iron and steel, nonferrous metals, and other products; its imports include iron and steel, machinery, and food and beverages, particularly meat and milk. In 2017, Azerbaijan exported $14.3B and imported $8.1B, resulting in a positive trade balance of $6.17B. Why your go-to-market strategy should be industry focused; Dec. 1, 2020. The Gäncä-Qazax region is situated in the centre of Transcaucasia near the junction of Azerbaijan, Armenia, and Georgia. A tea plantation in the Länkäran region of southern Azerbaijan. Merchandise Trade statistics data for Azerbaijan (AZE) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. Azerbaijan’s other exports include sugar, fruits, metals and polymers.Azerbaijan’s main exports partners are Italy, the United Kingdom, the United States, Israel, Indonesia, France and Turkey. Its share of the trade turnover with CIS countries is approximately 50%. Grapes, tobacco, and grain are the main crops; wine-making, silk-making, and electrical engineering are the main industries. In Kürdämir a fragrant dessert wine is produced. The bilateral trade with Turkey made $3.591.6 billion, while it amounted to $296.2 million with Tunis, and $274 million with Iran, according to … Cotton-ginning plants are located in Bärdä, Salyan, and Äli-Bayramlı, all of which, in addition to being on the Kura River, have the advantage of being located on railways and motor roads. The principal goods carried are oil products, building materials, timber, and grain. Note: The de-restriction of documents is a key component of the transparency obligations of the Multilateral Trading System. In 2018, Azerbaijan exported $19.9B and imported $11.9B, resulting in a positive trade balance of $8.01B. The Länkäran region of southern Azerbaijan is well endowed by nature; warm-climate crops, such as tea, feijoa (a fruit-bearing shrub), rice, grapes, tobacco, and citrus trees, flourish there. EU INSTITUTIONS . The trade turnover between the countries amounted to $6 billion in 2019. During the reporting period, the export of Azerbaijani products to Russia amounted to $565.5 million, while the import from Russia amounted to $1.6 billion. The trade turnover with Italy accounted for $3.4 billion out of Azerbaijan’s overall trade turnover of $18.4 billion in the first nine months of the year. Air routes connect Baku with many European and Asian cities. Because the average altitude is 4,900 feet, it is one of the areas in the country where broken relief impedes the development of transport, industry, and agriculture. Trade with the EU last year constituted 47% of Azerbaijan’s total, while in January-August this year the indicator stood at 37%, the minister said. 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