BAKU, Azerbaijan, Nov.11
By Fidan Babayeva - Trend:
The volume of imports from the US to Azerbaijan amounted to $ 525.8 million from January through September of this year, compared to $ 652.2 million a year earlier, Trend reports with reference to the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
"The decline in imports compared to the same period last year was 19.3 percent. The US' share in Azerbaijan's total exports increased from 6.72 to 6.28 percent, " the report says.
According to SCC, the export of Azerbaijani products to the US decreased from $12,300 to $18,000 thousand on an annual basis.
In the reporting period, the volume of foreign trade operations between Azerbaijan and the US amounted to $ 538.1 million, which decreased by 24.5 percent year-on-year.
Thus, the balance of Azerbaijan's foreign trade turnover with the US for the reporting period remained negative, amounting to $513.5 million.
The US and Azerbaijan have bilateral agreements on trade and investment. The US companies are involved in oil production in Azerbaijan, as well as exploring new investment opportunities in telecommunications and other areas. Azerbaijan was designated as a beneficiary country in the universal system of preferences, and under this program, a number of Azerbaijani products were eligible for duty-free import to the US.
(1 USD = 1.7 AZN on Nov.11)
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