BAKU, Azerbaijan, Mar.30
By Fidan Babayeva - Trend:
The value of imports from Italy to Azerbaijan declined by 40 percent from January through February 2020, compared to the same period of 2020, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
Thus, the import of Italian products by Azerbaijan decreased from $83 million to $50.4 million, said the report.
In the first 2 months of 2021, the share of Italy in the total imports of Azerbaijan amounted to 3.13 percent of the total import, while a year earlier – 4.6 percent.
According to the committee, exports from Azerbaijan to Italy amounted to $1.04 billion, while a year earlier this figure was $1.49 billion.
At the same time, Italy’s share in the total export of Azerbaijan decreased from 45.95 to 37.55 percent.
The volume of foreign trade operations between Azerbaijan and Italy amounted to $1.09 billion, an annual decrease of 30 percent.
Accordingly, the balance of foreign trade turnover of Azerbaijan with Italy for the reporting period remained positive, amounting to $996 million.
From January through February 2020, Azerbaijan's foreign trade turnover totaled over $4.4 billion, having decreased by 12.6 percent year on year.
Italy is one of the leaders in the import of oil from Azerbaijan. From January through March 2020, the bulk (50.1 percent) of Azerbaijani oil exports fell in Italy. Italy also became the leader in the import of Azerbaijani hazelnuts in 2020.
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