Azerbaijan-EU trade drops 32% in January

In January, trade between Azerbaijan and European Union (EU) countries totaled $1,781,262,000, marking a 32% decline compared to the same period last year, Report informs, citing the State Customs Committee of Azerbaijan.

During the period, Azerbaijan's exports to the EU decreased by 33.6% to $1,596,934,000, while imports from the EU fell by 13.4% to $184,328,000. EU countries accounted for 71.4% of Azerbaijan's total exports and 14.15% of its total imports in January.

The largest trade volumes were recorded with Italy, Romania, Germany, Bulgaria, and Greece.

• Italy: Total trade reached $1,230,394,000, with $1,186,941,000 in exports and $43,453,000 in imports. Over the past year, trade decreased by 14.1%, including a 15% decline in exports and a 13.9% increase in imports.

• Romania: Trade totaled $100,966,000, with $96,939,000 in exports and $4,027,000 in imports. Over the past year, trade decreased by 12.2%, with exports down 8.8% and imports down 55%.

• Germany: Trade amounted to $94,919,000, including $49,406,000 in exports and $45,512,000 in imports. Trade with Germany fell 66.5% over the past year, with exports down 78.4% and imports down 17.4%.

• Bulgaria: Trade totaled $86,872,000, with $85,822,000 in exports and $1,050,000 in imports. Trade with Bulgaria rose 34.2% over the year, including a 38.6% increase in exports, while imports declined 63%.

• Greece: Trade reached $55,072,000, including $45,938,000 in exports and $9,134,000 in imports. Trade with Greece fell 48% over the past year, with exports down 53% and imports up 6%.

The data highlights both challenges and opportunities in Azerbaijan's trade relations with major EU partners amid shifting global economic conditions.