Azerbaijan’s foreign trade balance surplus grows

Business Materials 20 February 2020 20:06 (UTC +04:00)

BAKU, Azerbaijan, Feb. 20

By Eldar Janashvili - Trend:

Azerbaijan’s foreign trade turnover amounted to $2.8 billion in January 2020, which is 23.8 percent more than in the same period of 2019, Trend reports Feb. 20 with reference to the report by Azerbaijan’s State Customs Committee (SCC).

In the structure of foreign trade, exports accounted for $2.1 billion, which ensured an increase in exports on an annualized basis by two-thirds (66.9 percent), according to the report.

The specific weight of exports increased by one third, to 74.7 percent of the volume of foreign trade turnover.

Imports to Azerbaijan last year amounted to $720.9 million, significantly decreasing by 29.5 percent compared to the same period last year.

The share of imports in the total turnover decreased by 19.1 percentage points to 25.3 percent of the total volume.

The balance in Azerbaijan’s foreign trade turnover grew 5.5 times and remained with surplus of $1.4 billion.

($1= 1.7 manat on Feb. 20)