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Share of Chinese goods in Azerbaijan's total imports grows markedly

Business Materials 19 January 2021 15:45
Share of Chinese goods in Azerbaijan's total imports grows markedly

BAKU, Azerbaijan, Jan. 19

By Zeyni Jafarov – Trend:

Exports from Azerbaijan to China in total terms amounted to $432.7 million in 2020, which demonstrates a 42.5 percent decline compared to 2019, Trend reports with reference to the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.

Accordingly, the share of China in the total export of Azerbaijan decreased from 3.83 to 3.15 percent.

By late 2020, imports of Chinese products to Azerbaijan amounted to $1.41 billion, while a year-earlier - $1.43 billion, a decrease of 1.3 percent. China’s share in Azerbaijan’s total imports amounted to 13.18 percent of the total volume, in 2019 - 10.48 percent.

The volume of foreign trade operations between the two countries over the last year amounted to $1.85 billion, which is $337.6 million or 15.45 percent less compared to 2019.

The balance of foreign trade turnover between Azerbaijan and China for the reporting period remained negative, amounting to $981 million.

In general, by the end of 2020, Azerbaijan's foreign trade turnover amounted to $24.4 billion. Of these, more than $13.7 billion, or 56.15 percent, accounted for exports, and the remaining $10.7 billion or 43.85 percent - for imports.

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