BAKU, Azerbaijan, Oct. 2
By Fidan Babayeva - Trend:
Imports of Czech Republic's products to Azerbaijan increased from $31.9 million to $33.5 million year-on-year, Trend reports on August 24 referring to the statistics bulletin of the Azerbaijani State Customs Committee.
The Czech Republic's share in Azerbaijan's total imports was 0.5 percent of the total volume, compared to 0.34 percent for the same period last year.
Meanwhile, exports from Azerbaijan to the Czech Republic amounted to $191 million from January through August this year, while a year earlier this figure was $431.5 million. Thus, on an annual basis, the Czech Republic reduced imports of products from Azerbaijan by 55 percent, while the Czech Republic's share in Azerbaijan's total exports decreased from 3.19 to 1.93 percent.
During the reporting period, the volume of foreign trade operations between Azerbaijan and the Czech Republic amounted to $224.4 million, which is 51 percent less than in the same period last year.
Thus, the balance of Azerbaijan's foreign trade turnover with the Czech Republic during the reporting period remained positive, amounting to $158 million.
One of the leading Czech companies Moravia Steel is involved not only in the Baku-Tbilisi-Kars railway project, but since the beginning of this year it has also been working in the project of modernizing the Azerbaijani section of the North-South railway corridor.
Thanks to infrastructure projects, Czech Republic has become one of the top ten foreign investors in Azerbaijan.
Azerbaijan's foreign trade turnover amounted to $16.6 billion from January through August this year, which is 27.6 percent less than from January through August of 2019.
The balance of foreign trade turnover decreased by 22.9 percent year-on-year, but remained positive, amounting to $3.2 billion.
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