BAKU, Azerbaijan, Nov.2
By Fidan Babayeva - Trend:
The volume of imports from France to Azerbaijan grew from nearly $197.3 to over $332.4 million in the past 9 months of the 2020 year on year, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to SCC’s bulletin, from January through September 2020 the share of France in the total import of Azerbaijan made up 4.25 percent, while in the same period of 2019 this figure was 1.9 percent.
In the reporting period, the value of export of Azerbaijani products to France amounted to $55 million, while a year earlier this figure reached $447.5 million. Azerbaijan’s export to France dropped by almost 8 times. As a result, the share of France in Azerbaijan’s total export lowered to 0.52 percent.
Meanwhile, the volume of foreign trade operations between Azerbaijan and France made up $387.5 million, dropping by 39.9 percent year on year.
Thus, the balance of foreign trade turnover between the two countries for the reporting period remained negative, equating to $277.3 million.
From January through September 2020, the foreign trade turnover of Azerbaijan made up $18.4 billion, which is 27.1 percent less compared to the same period of 2019.
The balance of foreign trade turnover dropped by 38.6 percent over the year, but remained positive, making up $2.7 billion.
In May 2020, a joint webinar was held at the initiative of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), the French Organization of Entrepreneurs (MEDEF), and the Azerbaijan-France Chamber of Commerce and Industry.
Cooperation is underway between the State Oil Company of Azerbaijan (SOCAR) and the French oil company ‘Total’. It’s planned to implement such projects as exploration and development of the block of offshore fields ‘Umid’ and ‘Babek’.
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