About Us BRIEF ON BILATERAL TRADE AND COMMERCE

EMBASSY OF INDIA

BAKU (Azerbaijan)

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Brief on Bilateral Trade & Commerce


Over the years, India’s bilateral trade with Azerbaijan has increased substantially from around US$ 50 million in 2005 to around US$ 922 million in 2018. Substantial trade of Indian goods and products is carried through UAE and other third countries which do not get reflected in the trade statistics of India or Azerbaijan. The important items of direct and indirect imports from India are Rice, Mobile phones, Kali & natrum bromide, Heat exchange units, Other air and gas compressors/ ventilation units, Drugs/Human vaccine, Isolating switched and make-&-break switches, Ropes, cables, plaited cords from ferrous metals without electric isolation, vegetable seeds, Meat of large horned livestock, Machines and equipment to process materials by temperature's change, black tea, insecticide etc. The primary import of India from Azerbaijan is crude oil and other unwrought lead.

The jump in bilateral trade coincided with the opening of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline to the Mediterranean port, from where; Indian oil companies have been buying substantive quantities of crude oil. In 2017, India’s trade with Azerbaijan was US$ 463 million which increased by over 99% in 2018 to US$ 922. In 2018, India’s exports were US $103 million (6% more as compared to 2017) and imports were US$ 820 million (124 % more as compared to 2017). During the early years of Azerbaijan’s independence, a sizable quantity of pharmaceuticals and drugs were imported from India. However, these imports were later dipped due to various reasons. Since February 2016, the concerned authorities in Azerbaijan started accepting dossiers for registration of Indian Pharma products and the final registration of products started in 2017.

Potential products of imports from India are Rice(HS100610/30) Black tea/Other black tea(HS090230/40), Car(HS870324), Agricultural tractors (HS 870193), Stones for monuments and building granite(HS 680223), stones for monuments and building marble and travertine etc. (HS 680221).


BILATERAL TRADE WITH INDIA YEARWISE

 (In Million US Dollars)

Year

Import from India

Export to India

Total Bilateral Trade

2015

34.80

270.24

305.04

2016

59.85

437.18

497.03

2017

97.03

365.52

462.55

2018

102.94

819.94

922.48

Top 10 items of Imports from India in 2018

Sl. No.

Commodity

In millions US$

1.

Rice

25.352

2.

Mobile phones

8.512

3.

Machines and equipment to process materials by temperature’s charges

7.779

4.

Other bromides and oxides bromide

7.302

5.

Drugs

5.509

6.

Parts for machines and equipment to process materials by temperature’s changes

2.447

7.

Textile winding or reeling machines

2.304

8.

Elevating and unloading machines and devices

2.189

9.

Black tea

1.969

10.

Anticorrosion agent

1.594

 

          Top items of export to India in 2018

Sl. No.

Commodity

In millions US$

1.

Crude Oil

817.679

2.

Oil coke

0.694

3.

Iodine

0.621

4.

Cattle skins

0.209


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October, 2019