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China's import of Azerbaijani products grows multifold in value terms

Business Materials 1 March 2021 17:04 (UTC +04:00)
China's import of Azerbaijani products grows multifold in value terms

BAKU, Azerbaijan, Mar.1

By Zeyni Jafarov - Trend:

Azerbaijan exported products totally worth over $106.8 million to China in January 2021, which is a growth of 17.6 times compared to the same month of 2020, Trend reports citing the statistical bulletin of the Azerbaijani State Customs Committee.

According to the bulletin, the share of China in total export of Azerbaijan for the reporting month amounted to 6.58 percent compared to 0.29 percent in January 2020.

Meanwhile, the value of products imported by Azerbaijan from China on an annualized basis shrank by 4 percent and made up $109.4 million, while a year before this figure was $114 million. China share in Azerbaijan's total imports reached 13.89 percent of the total volume compared to 15.81 percent for January 2020.

The value of foreign trade operations between the two countries made up $216.3 million, which shows a spike of $96.2 million or 1.8 times compared to January last year.

At the same time, the balance of foreign trade turnover of Azerbaijan with China remained negative, amounting to $2.5 million.

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.

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