Azerbaijan increases imports of Italian goods
BAKU, Azerbaijan, Sept. 28
By Fidan Babayeva – Trend:
Azerbaijan imported $276.8 million worth of products from Italy in the past 8 months of 2020, which is decline by 12.6 percent compared to the same period of 2019, Trend reports on Sept.28 referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the committee, in the reporting period, export of products from Azerbaijan to Italy amounted to $3 billion, while a year earlier - $3.8 million.
Thus, Italy’s import of Azerbaijani products went down by 20 percent year on year, while share of Italy in the total imports of Azerbaijan grew from 2.62 percent to 4.14 percent.
From January through August this year, the volume of foreign trade operations between Azerbaijan and Italy crossed $3.3 billion, showing a 18-percent rise over the year.
Meanwhile, 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, but nevertheless remained positive, amounting to almost $3.2 billion, which is 23 percent less than in the same period of last year.
Italy is one of the leading buyers of oil from Azerbaijan. Moreover, Italy became the leader in the import of Azerbaijani hazelnuts in 2020.