BAKU, Azerbaijan, March 29
Tamilla Mammadova – Trend:
Online sales contributed to an increase in car exports to Azerbaijan and Ukraine from Georgia in 2020, Trend reports via the Georgian investment company Galt & Taggart.
The document notes that Azerbaijan is the largest export market for the re-export of cars from Georgia.
According to the source, despite the coronavirus pandemic, car exports to Azerbaijan in 2020 amounted to $226.4 million. However, this figure fell by 12.6 percent year-on-year. The drop in exports was noted in the 2Q2020 and 4Q2020.
In the second quarter of 2020, car sales from Georgia to Azerbaijan fell by half on an annualized basis (down 50.4 percent), while in the fourth quarter the decline was 45.6 percent.
The second largest car export market from Georgia is Ukraine. Sales increased 1.3 percent year-on-year to $81.1 million. In the second quarter alone, exports fell by 68.5 percent year-on-year.
According to Galt & Taggart, the re-export of cars to Azerbaijan and Ukraine was supported by online sales.
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