Azerbaijan raises value of export operations with Iran in 9M2020
BAKU, Azerbaijan, Nov. 6
By Fidan Babayeva – Trend:
Azerbaijan exported goods worth $30 million to Iran from January through September 2020, while a year earlier this figure was $27.7 million, Trend reports on Nov.6 referring to the statistical bulletin of the Azerbaijani State Customs Committee.
Azerbaijan increased the export volume to Iran by 8.4 percent.
Thus, the share of Iran in the total export volume of Azerbaijan amounted to 0.28 percent of the total volume.
During the reporting period, the import of products from Iran to Azerbaijan decreased from $362.9 million to $210.3 million on an annualized basis.
The share of Iran in Azerbaijan's total import volume amounted to 2.69 percent of the total volume.
The volume of foreign trade operations between Azerbaijan and Iran amounted to $240.3 million, which is 38.4 percent less compared to the same period of last year.
Thus, the balance of foreign trade turnover between Azerbaijan and Iran in the past 9 months remained negative, amounting to $180.2 million.
In general, Azerbaijan's foreign trade turnover amounted to $18.4 billion from January through September 2020, which is 27.1 percent less than in the same period of 2019.
The balance of foreign trade turnover on an annualized basis decreased by 38.6 percent but nevertheless remained positive, amounting to $2.7 billion.
Iran and Azerbaijan have great potential in the transport sector, especially in the railway sector. Work on a rail project in Iran along the North-South corridor continues.