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Foreign trade turnover of Azerbaijan's Nakhchivan grows

Business Materials 13 August 2020 14:32 (UTC +04:00)
Foreign trade turnover of Azerbaijan's Nakhchivan grows

BAKU, Azerbaijan, Aug. 13

By Eldar Janashvili - Trend:

The foreign trade turnover of Azerbaijan’s Nakhchivan Autonomous Republic totaled over $256.8 million over the first seven months of 2020, which is 1.4 percent more compared to the same period of 2019, Trend reports citing the monthly report of the State Statistical Committee of Nakhchivan.

In the structure of the foreign trade turnover, more than $223.1 million accounted for the export, which rose by 0.7 percent over the year.

The specific share of Nakhchivan’s export dropped by 0.6 percent, making up 86.9 percent of the total volume of foreign trade turnover, said the monthly report.

The value of imports to the Nakhchivan Autonomous Republic for the first seven months of this year surpassed $33.7 million, having grown by 6.2 percent year-on-year.

Reportedly, the specific share of imports in the total trade turnover rose by 0.6 percent, amounting to 13.1 percent of the total import.

Balance of foreign trade turnover declined by 0.2 percent and remained positive, equaling to $189.4 million.

Retail trade turnover, in turn, amounted to 877.6 million manat ($516.2 million), decreasing by 1.1 percent on an annualized basis.

Category

From Jan. through July 2020

From Jan. through July 2019

Difference in Jan. through July 2020 compared to Jan. through July 2019, in percent

Foreign trade turnover

$256.8 million

$253.3 million

+1.4

Export

$223.1 million

$221.5 million

+0.7

Import

$33.7 million

$31.7 million

+6.2

Retail trade turnover

877.6 million manat ($516.2 million)

879.3 million manat ($517.2 million)

-1.1

(1 USD = 1.7 AZN on Aug. 13)

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