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Home / Economy / Trade Turnover Between Azerbaijan, Georgia Hits $425M

Trade Turnover Between Azerbaijan, Georgia Hits $425M

The trade turnover between Azerbaijan and Georgia amounted to $425.91 million in January-July 2017, which is 34.2 percent more compared to the same period of 2016.

Azerbaijan occupies the fifth place among the importers of Georgian products, according to Georgia’s Statistics Service.

During the reporting period, the supply of goods from Georgia to Azerbaijan increased by 83.5 percent, to $106.07 million. The share of Azerbaijan in Georgian exports increased from 5.2 to 7.3 percent.

Among the suppliers of goods to Georgia, Azerbaijan ranks fourth with $319.84 million (with a share of 7.6 percent against 6.4 percent a year earlier). During the year, the export of Azerbaijani products to Georgia increased by 28.5 percent.

Azerbaijan is on the fourth place in the list of foreign trade partners of Georgia with a specific gravity of 7.5 percent.

The first place is occupied by Turkey ($858.72 million, with a specific weight of 15.1 percent), followed by Russia ($605.71 million, with 10.7 percent) and China ($441.81 million, with 8.5 percent).

Georgian exports to Azerbaijan include cement, locomotives and other railway vehicles, mineral and chemical fertilizers, mineral waters, strong drinks, glass and glass wares, and pharmaceuticals, among other things.

Azerbaijani mainly exports to Georgia oil and petroleum products, natural gas, plastic wares, furniture and building constructions.

Diplomatic ties between Azerbaijan and Georgia were established on November 18, 1992.

The countries broadly cooperate in regional energy development, transportation and economic partnership projects such as Baku-Tbilisi-Ceyhan (BTC) pipeline, Baku-Tbilisi-Kars (BTK) railway, the Transport Corridor Europe-Caucasus-Asia (TRACECA), the Organization of the Black Sea Economic Cooperation (BSEC).

The two countries closely cooperate in such spheres as education, defense, culture, economy and so on. Azerbaijan occupies the leading positions in the list of the largest trading partners of Georgia.