BAKU. Azerbaijan. Jan.18
By Zeyni Jafarov - Trend:
Most of the settlements on Azerbaijan's trade turnover were carried out through free convertible currency (FCC) in 2020, Trend reports on Jan.18 referring to the report of the State Customs Committee.
Settlements in FCC on export operations made up nearly $7.7 billion, or 56 percent of all types of settlements in exports, which, in turn, is 42.5 percent less than the year before.
Settlements in hard currency on import operations as of late 2020 amounted to over $9.1 billion, or 85 percent of all types of payments in import relations, showing an annualized decline of 7.2 percent.
By the end of 2020, closed currency settlement operations in Azerbaijan's exports reached $19.6 million, which is 40.4 percent more than in late 2019. In imports, this figure amounted to $741.3 million, having decreased by 5.75 percent over the year.
Other export transactions reached $6 billion, indicating an annual growth of 40.6 percent. The share of other export transactions amounted to 43.6 percent of all types of settlements. There is a 72.3 percent decrease in import operations in this category. The share of such transactions in all types of import settlements is estimated at 7.85 percent.
In the structure of Azerbaijan's foreign trade turnover, exports accounted for over $13.7 billion, and imports - $10.7 billion.
The balance of foreign trade turnover on an annualized basis decreased by 49.5 percent, nevertheless remaining positive, amounting to $3 billion.
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