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Italy, Germany, Russia deny to establish US leadership in trade with Azerbaijan

Italy, Germany, Russia deny to establish US leadership in trade with Azerbaijan

ROME: Baku, Fineko/abc.az. Top 3 and Top 5 of Azerbaijan’s key trading partners did not have internal changes in July: the U.S, which in February became Azerbaijan’s key trade partner for the first time in history and most ex-dynamic counteragent, calmed down as back as in June. By the end of first 7-month term of 2015 Top 3, as a month before, consisted of Italy, Germany and Russia and Top 5 included Italy, Germany, Russia, the U.S. and Turkey.

The State Customs Committee (SCC) informs that for Jan-Jul the ‘non-aligned’ countries (states out of EU and CIS) failed to return their former status of key trade partners of the country. Those countries formed Azerbaijan’s foreign trade turnover ($12.78 bn) by 40.14% or $5.129 bn, while the EU countries formed it by 48.5% ($6.199 bn). 11.4% or $1.449 bn accounted for CIS member states.

Over Jan-Jul export to the EU countries reached $4.645 bn or 62.17% of total export ($7.47 bn) with a decline of 31.8%, while import from the EU states ($1.55 bn) grew by 1.42% up to 29.28% of total import ($5.305 bn). As a result, Azerbaijan had positive balance with the EU member countries at the level of $3.09 bn, which exceeded the net surplus of the country’s foreign trade ($2.167 bn).

For the past 7 months of 2015 export to the non-aligned countries declined by 57.2% to $2.5 bn (34% of total export) and import grew by 18.5% up to $2.587 bn (48.8% of total import). As a result, Azerbaijan received $45 million of negative balance with those countries.

Azerbaijan’s export to the CIS countries totaled only $284 million (3.8% of entire export) with a fall of 42.9% and import made up $1.16 bn (22%) with an increase of 0.36%. As a result, the country had negative balance of $88 million.