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EU's share in Azerbaijan's 2M2021 imports revealed

Business Materials 1 April 2021 12:13 (UTC +04:00)
EU's share in Azerbaijan's 2M2021 imports revealed

BAKU, Azerbaijan, Apr.1

By Fidan Babayeva - Trend:

The value of imports of products from the EU to Azerbaijan decreased by 4.8 percent in the first 2 months of 2021, compared to the same period of 2020, totaling $333.2 million, Trend reports referring to the statistical bulletin of the country’s State Customs Committee (SCC).

According to the bulletin, the share of the EU in Azerbaijan's total imports in the reporting period amounted to 20.6 percent of the total volume against 19.5 percent in 2M2020.

Meanwhile, exports from Azerbaijan to the EU made up $1.49 billion, while a year earlier this figure was at the level of $2.09 billion, reads the bulletin.

Thus, the EU’s share in the total export of Azerbaijan decreased from 64.37 to 53.5 percent.

The volume of foreign trade operations between Azerbaijan and the EU amounted to $1.82 billion, showing an annual decrease of 25 percent.

Accordingly, the balance of Azerbaijan’s foreign trade with the EU for the reporting month remained positive, equaling $1.16 billion.

Expenses of Azerbaijan for importing goods from EU countries in 2020 totaled over $2.5 billion against $2.4 billion a year earlier.

At the same time, the value of Azerbaijan’s exports to the EU dropped from almost $10.5 billion to $6.8 billion year on year. The volume of foreign trade operations between Azerbaijan and EU countries in 2020 amounted to $9.3 billion, which is 27.9 percent less compared to 2019.

Azerbaijan is an important economic partner of the EU. The EU countries are the largest importers of Azerbaijani products, in particular, about 50 percent of Azerbaijan's exports fall on the EU.

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Follow the author on Twitter: @Fidan_Babaeva

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