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Greek share in Azerbaijan's total export up over 10M2020

Business Materials 27 November 2020 09:56 (UTC +04:00)
Greek share in Azerbaijan's total export up over 10M2020

BAKU, Azerbaijan, Nov.27

By Fidan Babayeva - Trend:

The value of export of Azerbaijani products to Greece amounted to $432.5 million, rising by 1.8 times year on year, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.

According to the bulletin, thus, the share of Greece in Azerbaijan’s total export made up 3.54 percent.

During the reporting period, the import of Greek products to Azerbaijan declined to $11 million, which is 6 percent down compared to the same period of 2019. The share of Greece in the total import of Azerbaijan made up 0.13 percent.

Thus, the balance of foreign trade turnover between the two countries for the reporting period remained negative, equating to $421.4 million.

In general, from January through October 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 the country’s annualized foreign trade turnover for the reporting period, despite a decrease of 38.6 percent, remained positive, equating to over $2.7 million.

Since 2017, Azerbaijan and Greece have been cooperating within the TAP (Trans-Adriatic Pipeline) project. The main shareholders of this project are the BP energy concern (UK), Statoil (Norway), and SOCAR (Azerbaijan).

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Follow the author on Twitter: @ Fidan_Babaeva

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