BAKU, Azerbaijan, Oct. 29
By Fidan Babayeva - Trend:
The value of Imports of products from the UK to Azerbaijan increased by 24.8 percent from January through September 2020, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the report, the import volume rose from $172.8 million to $215.7 million,
At the same time, the share of the UK in the total import of Azerbaijan made up 2.76 percent of the total import volume, while a year earlier this figure was 1.67 percent.
From January through September 2020, exports from Azerbaijan to the UK amounted to $73.3 million, while a year earlier - $381.1 million.
Thus, the UK’s share in the total export of Azerbaijan decreased from 2.56 to 0.69 percent year on year.
The volume of foreign trade operations between Azerbaijan and the UK amounted to $289 million, having slumped by 50 percent.
Thus, the balance of foreign trade turnover between Azerbaijan and the UK remained negative for the reporting period, amounting to $142.4 million.
Azerbaijan's foreign trade turnover in the first nine months of 2020 amounted to $18.4 billion, dropping by 27.1 percent year on year.
The balance of foreign trade turnover on an annual basis decreased by 38.6 percent, but remained positive, amounting to $2.75 billion.
The UK is one of the largest foreign investors in Azerbaijan. There are about 100 British firms operating in Azerbaijan.
During the visit of National Leader Heydar Aliyev to the UK on November 28, 1995, important meetings were held. Heydar Aliyev also participated in a conference organized by the Adam Smith Institute on ‘Investment Opportunities in Azerbaijan’. The memorandum on the establishment of the Azerbaijani-British Trade and Industry Council was signed during this conference.
(1 USD = 1.7 manat on Oct. 29)
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