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Azerbaijan's foreign trade balance remains positive in 2020

Business Materials 15 January 2021 19:38
Azerbaijan's foreign trade balance remains positive in 2020

BAKU, Azerbaijan, Jan. 15

By Zeyni Jafarov - Trend:

Azerbaijan's foreign trade turnover for 2020 amounted to $24.5 billion, which is by 26.5 percent less than in 2019, Trend reports citing a report from the Azerbaijani State Customs Committee.

In the structure of foreign trade turnover, export accounted for $13.7 billion, which amounted to a 30 percent decline in export on an annualized basis. The share of export for the year decreased by 2.81 percentage points up to 56.15 percent of the total volume of foreign trade turnover.

Import to Azerbaijan in 2020 amounted to $10.7 billion, having decreased by 21.5 percent compared to 2019. The share of imports in the total volume of trade increased by 2.81 percentage points up to 43.85 percent of the total volume.

The balance of foreign trade turnover on an annualized basis decreased by 49.5 percent but nevertheless remained positive, amounting to $3.01 billion.

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