In the first half of 2016, compared to the corresponding period of the previous year, the volume of exports reduced (-5.7%) overall with the declines especially steep in the export of Ferro-alloys (-32.6%), motor cars (-24.5%) and medicaments (-24.4%).
Without including medicaments for hepatitis C the volume of imports also decreased (-7.0%) overall with significant declines in the import of petroleum oil (-20.2%), petroleum gases (-28.6%) and motor cars (-15.3%).
Turkey became a major export partner country, while exports to Azerbaijan reduced significantly. The volume of registered trade turnover in the first half of 2016 increased by 22%, compared to the corresponding period of the pre- vious year, and amounted to USD 5705.1 mln.
Imports increased (30.0%)* in this period. However, exports de- clined (-5.7%). Therefore, the negative trade balance deteriorated further (43.4%).
In the first two quarters of 2016, compared to the corresponding period of 2015, there was a significant decline in the export of the following products: Ferro-alloys (-32.6%), motor cars (-24.5%), medicaments (-24.4%), fertilizers (-16.5%), mineral waters (-10.7%) and nuts (-5.5%).
In the case of medicaments there was no significant change in the export market, but the volume of exports declined to significant partner coun- tries such as Uzbekistan, Azerbaijan, Turkey, Kyrgyzstan and Kazakhstan.