US’ share in Azerbaijan's total imports grows
BAKU, Azerbaijan, Sept.25
By Fidan Babayeva – Trend:
The US’ share in Azerbaijan's total imports increased from 6.28 to 7.41 percent of the total import from January through August 2020, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
In the past eight months of this year, the volume of foreign trade operations between Azerbaijan and the US amounted to $506.3 million, which is 16.1 percent less compared to the same period of last year.
“The export of products from the US to Azerbaijan decreased during this period by 15.8 percent, amounting to $495.6 million. Meanwhile, the export of Azerbaijani products to the US decreased by 25.6 percent over the year.
The export of Azerbaijani products to the US for the mentioned period amounted to $10.6 million, while a year earlier it was $14.3 million.
“Azerbaijan's foreign trade turnover amounted to $16.57 billion, which is 27.6 percent less compared to the same period of 2019. The balance of foreign trade turnover decreased by 22.9 percent on an annualized basis, but remained positive, amounting to $3.19 billion.
In 2019, the resident of the Balakhani Industrial Park began exporting furniture to the US, where 3,000 sets of furniture will be supplied annually.
The US companies export heavy equipment to Azerbaijan, explore investment opportunities in telecommunications and other non-oil sectors. As for the Azerbaijani side, the priorities of trade here are agricultural products, as well as food (primarily tea) and light industry products, chemicals, and carpets.
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