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Azerbaijan’s trade balance with Czech Republic for 2020 remains positive

Business Materials 19 February 2021 05:01
Azerbaijan’s trade balance with Czech Republic for 2020 remains positive

BAKU, Azerbaijan, Feb. 19

By Zeyni Jafarov - Trend:

The export of goods from Azerbaijan to the Czech Republic in total amounted to $227.5 million as of 2020, which is by more than 2.8 times less than in 2019, Trend reports with reference to the statistics bulletin of the Azerbaijani State Customs Committee.

Thus, the share of the Czech Republic in the total export of Azerbaijan decreased from 3.3 percent to 1.66 percent.

By late 2020, import of the Czech Republic’s products to Azerbaijan decreased from $55.7 million to $46.1 million (17.2 percent) for the year.

The share of the Czech Republic in the total import of Azerbaijan amounted to 0.43 percent of the total volume compared to 0.41 percent for entire 2019.

The volume of foreign trade operations between the two countries amounted to $273.6 million, which shows a 2.6-fold decline compared to 2019.

Thus, the foreign trade balance of Azerbaijan with the Czech Republic for the reporting year remained positive, amounting to $181.4 million.

In general, as of 2020, Azerbaijan's foreign trade turnover amounted to $24.5 billion. More than $13.7 billion, or 56.15 percent, of that volume accounted for export while the remaining $10.7 billion, or 43.85 percent, for import.

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