Azerbaijan's expenses on importing fertilizers notably grows

Business Materials 12 March 2021 16:45 (UTC +04:00)
Azerbaijan's expenses on importing fertilizers notably grows

BAKU, Azerbaijan, Mar.12

By Zeyni Jafarov - Trend:

Azerbaijan exported fertilizers worth slightly over $1 million abroad in January 2021, which is a drop of 70.9 percent year on year, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.

According to the bulletin, the products’ share in a total volume of export from Azerbaijan in the reporting month made up 0.06 percent compared to 0.16 percent in January 2020.

Meanwhile, the value of fertilizers’ import to Azerbaijan surged by $6.09 million (5.5 times) on an annualized basis, amounting to $7.45 million. Their share in a total volume of imports to the country equaled 0.95 percent, up by 0.76 percentage points year on year.

The value of foreign trade turnover of fertilizers in Azerbaijan in January 2021 reached $8.46 million, which is 75.3 percent or $3.6 million more than in the same month of last year.

Overall, in the reporting month, 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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