BAKU, Azerbaijan, Nov.2
By Fidan Babayeva - Trend:
The value of imports from Spain to Azerbaijan grew from nearly $50 million to $65.1 million (by 30 percent) in the past 9 months of 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 Spain in the total import of Azerbaijan made up 0.83 percent.
In the reporting period, the value of export of Azerbaijani products to Spain amounted to $275.9 million, while a year earlier this figure was $540.1 million. As a result, the share of Spain in Azerbaijan’s total export lowered to 2.61 percent against 3.63 percent in the same period of 2019.
Meanwhile, the volume of foreign trade operations between Azerbaijan and Spain made up $341.1 million, dropping by 42.2 percent year on year.
Thus, the balance of foreign trade turnover between the two countries for the reporting period remained positive, equaling to $210.7 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.
Economic relations between Azerbaijan and Spain can be assessed as dynamically developing and having good prospects. Over the past three to four years, trade and economic relations between the countries have changed both in quantity and quality terms.
In this context it’s necessary to point out the active participation of Spanish companies, including small and medium-sized ones, in the implementation of various projects, especially in the development of urban, transport and social infrastructure, construction and equipping of administrative buildings and complexes, creation and supply of equipment for the sports facilities and related infrastructure which were used for the first European Games, in the fields of alternative energy, ecology, agriculture and others.
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