Embassy of India
Baku(Azerbaijan)
***
Over the years, India’s bilateral trade with Azerbaijan has increased substantially from around US$ 50 million in 2005 to around US$ 1093 million in 2019 and due to COVID-19 pandemic, it decreased to US$ 583 million in 2020. The important items of direct and indirect imports from India to Azerbaijan are rice, mobile phones, drugs/human vaccine, centrifugal liquid pumps, taps & valves, kali & natrium bromide, devices and equipment of automatic regulation & control, meat, mechanical spades & excavators, stones, tiles & granites etc. The primary export to India from Azerbaijan is crude oil. Other items of export to India from Azerbaijan are iodine, jet fuel and plants for perfumes.
The jump in bilateral trade coincided with the opening of the Baku-Tbilisi-Chaney(BTC) oil pipeline to the Mediterranean port, from where Indian oil companies have been buying substantive quantities of crude oil. In 2018, India’s trade with Azerbaijan was US$ 922 million which increased by 18.5% in 2019 to US$ 1093 million. However, in 2020, bilateral trade between India and Azerbaijan decreased to US$ 583 million due to COVID-19 pandemic. India’s export to Azerbaijan in 2020 was US$ 126 million and India’s import from Azerbaijan was US$ 457 million. During January-December 2020, crude oil continued to be Azerbaijan’s main export to India, valuing US$ 453 million. Rice was the main commodity of import from India, amounting to US$ 25.18 million, which accounts for 68.1% of total import of rice in Azerbaijan. Mobile phone was the second main commodity of import from India, amounting to US$ 16.40 million with 7.9% of total import of mobile phones in Azerbaijan.
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. In 2020, India has exported drugs/human vaccine with a value of US$ 12.75 million to Azerbaijan.
Potential products of imports from India are Rice (HS100610/30), Black tea/Other black tea (HS090230/40), Drugs/Human vaccine (HS300490/HS300220), Kali & natrium bromide (HS282751), Types of mechanical spades & excavators (HS842959), Parts boilers for central heating(HS840310), Centrifugal liquid – pumps(HS841370), Agricultural tractors& forestry tractors (HS870193), parts and accessories for motor vehicles(HS870899) and Cars (HS870322).
BILATERAL TRADE WITH INDIA YEARWISE
(In million US$)
|
Year
|
Import from India
|
Export to India
|
Total Bilateral trade
|
|
2015
|
34.80
|
270.24
|
305.04
|
|
2016
|
59.85
|
437.18
|
497.03
|
|
2017
|
97.03
|
365.52
|
462.55
|
|
2018
|
102.94
|
819.94
|
922.88
|
|
2019
|
136.65
|
955.87
|
1092.52
|
|
2020
|
126.00
|
456.80
|
582.80
|
TOP 10 ITEMS OF IMPORTS FROM INDIA IN 2020
|
Sl. No.
|
Commodity
|
6-digit HS code
|
In million US$
|
|
1
|
Rice
|
HS100630CE
|
25.182
|
|
2
|
Mobile phones
|
HS851712
|
16.399
|
|
3
|
Drugs
|
HS300490
|
10.967
|
|
4.
|
Centrifugal liquid-pumps
|
HS841370
|
7.198
|
|
5.
|
Taps, valves and other armature for pipelines
|
HS848180
|
4.681
|
|
6.
|
Kali & natrium bromide
|
HS282751
|
4.174
|
|
7.
|
Devices and equipment of automatic regulation and control
|
HS903289
|
3.621
|
|
8.
|
Meat of large horned livestock
|
HS020230
|
2.070
|
|
9.
|
Human vaccine
|
HS300220
|
1.793
|
|
10.
|
Types of mechanical spades & excavators
|
HS842959
|
1.719
|
TOP ITEMS OF EXPORT TO INDIA IN 2020
|
Sl. No.
|
Commodity
|
6-digit HS Code
|
In million US$
|
|
1
|
Crude oil
|
HS270900
|
452.730
|
|
2
|
Iodine
|
HS280120
|
3.141
|
|
3
|
Jet fuel
|
HS 271051
|
0.462
|
|
4
|
Plant for perfumes
|
HS121190
|
0.161
|
12.03.2021
