Azerbaijan's imports of French products declines
BAKU, Azerbaijan, Sept. 22
Bu Fidan Babayeva – Trend:
Azerbaijan decreased the import of goods from France in the past 8 months of 2020, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the committee, the value of French products’ import to Azerbaijan went down from $183 million to $113.8 million years on year. The share of France in the total imports of Azerbaijan made up 1.7 percent against 1.95 percent for the same period of 2019.
From January through August 2020, the export of products from Azerbaijan to France amounted to $55 million, while a year-earlier - $446.5 million. Thus, France’s import of Azerbaijani products dropped by 87 percent year on year, and the share of France in the total export of Azerbaijan dipped from 3.3 to 0.56 percent.
In the reporting period, the volume of foreign trade operations between Azerbaijan and France was slightly over $168.9 million, showing a 73-percent drop over the year.
Thus, the foreign trade balance of the two countries for the reporting period remained negative and made up $58.8 million.
Some 45 French companies are currently operating in Azerbaijan. So far, about 70 documents have been signed between the countries. French companies are involved as contractors in 34 projects worth $6.2 billion, implemented via the state budget of Azerbaijan.
From January through August 2020, Azerbaijan's foreign trade turnover was over $16.5 billion, which is 27.6 percent less than in the same period of 2019.
The balance of foreign trade turnover decreased by 22.9 percent on an annualized basis, and remained positive, amounting to $3.1 billion.