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Greece doubles import of Azerbaijani products

Business Materials 6 November 2020 18:05 (UTC +04:00)
Greece doubles import of Azerbaijani products

BAKU, Azerbaijan, Nov. 6

By Fidan Babayeva - Trend:

The value of Azerbaijan’s exports to Greece amounted to $428.7 million in the past nine months of 2020, while a year-earlier - $195.8 million, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.

As reported, Azerbaijan has increased its exports to Greece 2.2 times.

Thus, the share of Greece in the total export of Azerbaijan amounted to 4.05 percent.

From January through September 2020, imports of Greek products to Azerbaijan decreased from $10.2 million to $10 million on an annualized basis.

The statistical bulletin said that Greece’s share in the total imports of Azerbaijan equaled 0.13 percent.

The volume of foreign trade operations between Azerbaijan and Greece amounted to $438.8 million, having surged 2.1 times year on year, said the report.

Thus, the balance of foreign trade turnover between Azerbaijan and Greece, remaining negative, amounted to $418.6 million for the reporting period.

Azerbaijan's total foreign trade turnover in 9M2020 amounted to $18.4 billion, which is 27.1 percent less compared to 2019.

The balance of foreign trade turnover of Azerbaijan decreased by 38.6 percent, but remained positive, amounting to $2.75 billion.

Since 2017, cooperation between both mentioned states has been carried out within the framework of the TAP (Trans-Adriatic Pipeline) project. The main shareholders of this project are the BP energy concern (the UK), Statoil (Norway), and SOCAR (Azerbaijan).

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