BAKU, Azerbaijan, Aug. 20
By Eldar Janashvili –Trend:
The volume of Azerbaijan’s import operations with its five major trade partners made up $3.5 billion from January through July 2020, or 59.3 percent of the county’s overall import, Trend reports citing a report of the State Customs Committee of Azerbaijan.
The volume of import operations with the partners dropped by 21.9 percent compared to the same period of 2019, the committee said.
Russia has become the largest trade partner of Azerbaijan with an import of the Azerbaijani products worth $1 billion and with a specific share of 18.36 percent. It's followed by Turkey with the import value of $868.4 million (14.7 percent).
As reported, China ranks third in this indicator with the share of 13.2 percent and the import of the Azerbaijani products worth $777.1 million.
The US’ share amounted to 7.9 percent, with the import of the Azerbaijani products in the amount of $464.3 million, Germany’s share – 5.2 percent, with the import value of $303.7 million.
Nearly one third of the total import from Azerbaijan fell on Russia and Turkey - $1.9 billion.
Comparative table of TOP-5 major importers of the Azerbaijani products:
|
From Jan. through July 2020 |
From Jan. through July 2019 |
||||
|
Partner countries |
Import value |
Specific share (in percent) |
Partner countries |
Import value |
Specific share (in percent) |
|
Russia |
$1 billion |
32.12 |
Switzerland |
$1.19 billion |
14.12 |
|
Turkey |
$868.4 million |
18.72 |
Russia |
$1.18 billion |
14.07 |
|
China |
$777.1 million |
4.72 |
Turkey |
$816 million |
9.68 |
|
US |
$464.3 million |
4.06 |
China |
$727 million |
8.62 |
|
Germany |
$303.7 million |
3.99 |
US |
$562.5 million |
6.67 |
The total volume of Azerbaijan’s import operations dropped by 30 percent in July 2020, compared to July 2019, having made up $5.9 billion.
The positive balance for the first 7 months of this year amounted to $3.2 billion, having shown a 15.7 percent growth year-on-year. From January through July 2019, the amount of the country’s positive balance was $3.8 billion.
---
Follow the author on Twitter: @eldarjanashvili
