BAKU, Azerbaijan, Mar.1
By Fidan Babayeva - Trend:
The value of imports from Italy to Azerbaijan grew by 7.3 percent in 2020, compared 2019, Trend reports on Feb.27 citing the statistical bulletin of the State Customs Committee (SCC).
So, the import of Italian products by Azerbaijan increased from over $369.8 million to $396.2 million, said the bulletin.
In the reporting year, the share of Italy in the total imports of Azerbaijan amounted to 3.69 percent of the total import, while a year earlier - 2.71 percent.
According to the bulletin, exports from Azerbaijan to Italy amounted to over $4.1 billion, while a year earlier this figure was $4.94 billion.
Italy’s share in the total export of Azerbaijan increased from 28.72 to 30.36 percent.
The volume of foreign trade operations between Azerbaijan and Italy amounted to $4.6 billion, an annual decrease of 24 percent.
Thus, the balance of foreign trade turnover of Azerbaijan with Italy for the reporting year remained positive, amounting to $3.77 billion.
Overall, in January 2021, Azerbaijan's foreign trade turnover exceeded $2.4 billion. More than $1.6 billion of that amount or 67.34 percent accounted for export while the remaining $787.5 million or 32.66 percent for import.
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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