About Us BRIEF ON BILATERAL TRADE AND COMMERCE

Embassy of India

Baku(Azerbaijan)

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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