Export of Azerbaijani products to Belarus increases sixfold
BAKU, Azerbaijan, Sept.20
By Fidan Babayeva - Trend:
The export of Azerbaijani products to Belarus amounted to $98.1 million from January through August 2020, increasing six times compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
The volume of foreign trade operations between Azerbaijan and Belarus for the first eight months of this year amounted to $170.2 million, which is 29 percent more compared to the same period of last year.
At the same time, the share of Belarus in the total imports of Azerbaijan decreased from 1.26 to 1.08 percent of the total import volume
The export of products from Belarus to Azerbaijan decreased by 39 percent over the tear, amounting to $ 72 million.
In the reporting period, Azerbaijan's foreign trade turnover amounted to $16.5 billion, which is 27.6 percent less compared to the same period of last year. The balance of foreign trade turnover decreased by 22.9 percent year on year, but remained positive, amounting to $3.1 billion.
The main priorities of interaction between the two countries are industrial cooperation, joint projects in the fields of science and technology, as well as investment cooperation. The basis of Belarusian exports to Azerbaijan is made up of engineering products, oil refining, woodworking, food, medicines and other goods.
Belarus imports from Azerbaijan crude oil, ethylene polymers, cotton fiber, acyclic hydrocarbons, transformers, oil products.
Cooperation in the field of industrial cooperation is expanding, the number of investment projects is growing. Direct and long-term contacts have been established between the scientific environments of the two countries, joint research projects are being implemented. Cooperation in the service sector is expanding.
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