Share of Italy in total exports of Azerbaijan rises

Business Materials 27 November 2020 09:24 (UTC +04:00)
Share of Italy in total exports of Azerbaijan rises

BAKU, Azerbaijan, Nov. 27

By Fidan Babayeva - Trend:

The value of imports from Italy to Azerbaijan grew by 11.6 percent from January through October 2020, compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.

Thus, the import of Italian products by Azerbaijan increased from $305.6 million to $341 million, said the report.

In the first 10 months of this year, the share of Italy in the total imports of Azerbaijan amounted to 3.89 percent of the total import, while a year earlier - 2.67 percent.

According to the committee, exports from Azerbaijan to Italy amounted to $3.88 billion, while a year earlier this figure was $4.94 billion.

Italy’s share in the total export of Azerbaijan increased from 29.35 to 31.72 percent.

The volume of foreign trade operations between Azerbaijan and Italy amounted to $4.22 billion, an annual decrease of 20 percent.

Thus, the balance of foreign trade turnover of Azerbaijan with Italy for the reporting period remained positive, amounting to $3.53 billion.

From January through October 2020, Azerbaijan's foreign trade turnover totaled over $21 billion, having increased by 25.7 percent year on year.

Italy is one of the leaders in the import of oil from Azerbaijan. From January through March 2020, the bulk (50.1 percent) of Azerbaijani oil exports fell in Italy. Italy also became the leader in the import of Azerbaijani hazelnuts in 2020.


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