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Foreign trade operations between Azerbaijan, India increase

Business Materials 11 March 2021 16:35 (UTC +04:00)
Foreign trade operations between Azerbaijan, India increase

BAKU, Azerbaijan, March 11

By Fidan Babayeva - Trend:

Imports of products from India to Azerbaijan increased by 45.5 percent in January 2021, increasing year on year from $7.9 million to $11.5 million, Trend reports citing the statistical bulletin of the State Customs Committee of Azerbaijan.

As reported, India's share in Azerbaijan's total imports also increased from 1.1 to 1.4 percent of the total share.

In the reporting month, foreign trade operations between Azerbaijan and India amounted to $120.7 million, which is 15 times more compared to the same month of 2020.

According to the committee, the export of Azerbaijani products to India in the mentioned month amounted to $109.2 million, while a year earlier - $583,000.

Azerbaijan's total foreign trade turnover in January 2021 amounted to over $2.4 billion. Of these, more than $1.62 billion (67.34 percent) accounted for exports, the remaining $787.5 million or 32.66 percent - for imports.

The pharmaceutical sector of India has been created in Azerbaijan, and many Indian pharmaceutical companies operate here. India's imports include clothing and textiles, information technology, food and heavy equipment, electronic cards, steam boilers and other business equipment. In particular, crude oil is exported to India from Azerbaijan.

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Follow the author on Twitter: @Fidan_Babaeva

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