BAKU, Azerbaijan, Nov. 24
By Fidan Babayeva – Trend:
Azerbaijan's exports to the EU countries totaled $2 billion in the past ten months of 2020 against $1.9 billion a year earlier, thus having grown by 2.9 percent, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the bulletin, the EU’s share in the overall export of Azerbaijan for the reporting period rose from 17.33 percent to 23.31 percent.
At the same time, the value of the EU’s exports to Azerbaijan dropped from $9.1 billion to $6.1 billion year on year. Thus, the share of the EU in the total export of Azerbaijan decreased from 54.42 percent to 50.23 percent.
The volume of foreign trade operations between Azerbaijan and EU countries in 10M2020 amounted to $8.1 billion, which is 26 percent less compared to 10M2019.
Accordingly, the balance of the foreign trade turnover of Azerbaijan with the EU countries for the reporting period remained negative, having equaled $7.17 billion.
Azerbaijan's foreign trade turnover from January through October 2020 amounted to over $21 billion, while a year earlier this indicator was 25.7 percent less.
Azerbaijan is economically an important partner for the EU. Head of the EU Delegation to Azerbaijan Malena Mard has repeatedly said that Azerbaijan is the most reliable partner of the EU in the South Caucasus. One of the reasons for this is that Azerbaijan offers its assistance in the development of the project Southern Gas Corridor (SGC), migration, and trade. The EU countries are the largest importers of Azerbaijani products, about 50 percent of Azerbaijan's exports go to the EU.
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