BAKU, Azerbaijan, Jan.15
By Fidan Babayeva – Trend:
Azerbaijan's imports of goods from EU countries in the first 11 months of 2020 totaled over $2.3 billion against $2.1 billion a year earlier, thus having grown by 7 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 import of Azerbaijan for the reporting period rose from 17.47 percent to 23.9 percent.
At the same time, the value of Azerbaijan’s exports to the EU dropped from $10 billion to $6.57 billion year on year. Thus, the share of the EU in the total export of Azerbaijan decreased from 54.72 percent to 50.36 percent.
The volume of foreign trade operations between Azerbaijan and EU countries in 11M2020 amounted to $8.89 billion, which is 26 percent less compared to the same period of 2019.
Accordingly, the balance of the foreign trade turnover of Azerbaijan with the EU countries for the reporting period remained negative, having equaled $4.26 billion.
Azerbaijan's total foreign trade turnover from January through November 2020 amounted to nearly $22.7 billion, while a year earlier this indicator was 25.8 percent more. The balance of the country’s foreign trade turnover for the reporting period, despite the year-on-year lowering by 42.9 percent remained positive, having equaled $3.37 billion.
Azerbaijan is economically an important partner for the EU. The EU countries are the largest importers of Azerbaijani products, about 50 percent of Azerbaijan's exports go to 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.
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