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Foreign trade operations between Azerbaijan and Ireland increase

Business Materials 9 November 2020 17:52 (UTC +04:00)
Foreign trade operations between Azerbaijan and Ireland increase

BAKU, Azerbaijan, Nov. 9

By Fidan Babayeva – Trend:

The value of the products imported from Ireland to Azerbaijan reached $14.7 million from January through September 2020 compared to $11.9 million from January through September 2019, Trend reports citing the statistical bulletin of the Azerbaijani State Customs Committee.

Azerbaijan increased the import of Irish products by 23.8 percent.

Thus, the share of Ireland in the total import volume of Azerbaijan amounted to 0.19 percent.

The export of products from Azerbaijan to Ireland on an annualized basis increased from $27,000 to $123,000 from January through September 2020.

The volume of foreign trade operations between Azerbaijan and Ireland made up $14.9 million from January through September 2020, which is by almost 24 percent more compared to the period from January through September 2019.

Thus, the balance of foreign trade turnover between the two countries for the reporting period remained negative, equating to $14.6 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 on an annualized basis decreased by 38.6 percent but nevertheless remained positive, amounting to $2.7 billion.

The two countries are cooperating in the field of trade, investment, implementation of joint projects, and other sectors.

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Follow the author on Twitter: @Fidan_Babaeva

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