BAKU, Azerbaijan, Oct. 27
By Fidan Babayeva - Trend:
Imports of products from the EU to Azerbaijan increased by 3.7 percent in the first nine months of 2020, compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the report, the value of the imports increased from $1.78 billion to $1.84 billion.
The share of the EU in Azerbaijan's total imports amounted to 23.62 percent of the overall import, while a year earlier - 17.17 percent.
Exports from Azerbaijan to the EU amounted to $5.1 billion from January through September 2020, while a year earlier this figure was $7.82 billion.
Thus, the EU’s share in the total export of Azerbaijan decreased from 52.62 to 48.28 percent.
The volume of foreign trade operations between Azerbaijan and the EU amounted to $6.95 billion, which is 28 percent less compared to the same period of 2019.
Thus, the balance of foreign trade turnover of Azerbaijan with the EU for the reporting period remained negative, amounting to $3.26 billion.
From January through September 2020, Azerbaijan's foreign trade turnover amounted to $18.4 billion, which is 27.1 percent less than a year earlier.
The balance of foreign trade turnover on an annualized basis decreased by 38.6 percent, but remained positive, amounting to $2.75 billion.
Azerbaijan is economically an important partner for the EU, Head of the EU Delegation to Azerbaijan Malena Mard has repeatedly said that Azerbaijan is the most reliable partner of the EU in the South Caucasus. One of the reasons for this is that Azerbaijan offers its assistance in the development of the project Southern Gas Corridor (SGC), migration, and trade. The EU countries are the largest importers of Azerbaijani products, about 50 percent of Azerbaijan's exports go to the EU.
(1 USD = 1.7 manat on Oct. 27)
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