BAKU, Azerbaijan, Jan. 2
By Khagan Isayev - Trend:
Azerbaijan increased the export volume to the EU countries by 74.8 percent or $4.9 billion from January through November 2021 compared to the same period of 2020 up to more than $11.5 billion, Trend reports citing the Azerbaijani State Statistics Committee’s report.
According to the State Statistics Committee, 58.07 percent of Azerbaijan's total export volume accounted for the EU countries during the reporting period.
Azerbaijan's import from the EU countries in value terms exceeded $1.9 billion, which is by 18.49 percent of the total Azerbaijani import volume.
Thus, the positive balance of foreign trade turnover between Azerbaijan and the EU during the reporting period reached more than $9.6 billion, increasing by 125 percent on an annualized basis or $5.3 billion.
Azerbaijan exported most of its products from January through November 2021 among the EU countries to Italy - more than $8.1 billion, which is 70.91 percent of the total Azerbaijani export volume to the EU countries. Italy is followed by Croatia ($751.3 million), Portugal ($587.3 million), Spain ($562 million), Germany ($483.3 million), Greece ($325.03 million), Czech Republic ($214.02 million).
Azerbaijan’s foreign trade turnover as a whole increased by 32.85 percent or $7.5 billion from January through November 2021 compared to the same period of 2020 - from $22.7 billion to $30.2 billion.
The export volume reached $19.8 billion in the structure of Azerbaijan's foreign trade turnover in the reporting period while import volume - $10.4 billion, having increased in annual terms by 51.6 percent and 7.47 percent, respectively.
As a result, while remaining positive, the foreign trade balance increased on an annualized basis by 178 percent or $6.01 billion - to $9.4 billion from January through November 2021 compared to $3.4 billion from January through November 2020.
(1 USD = 1.7 AZN on Jan. 2)