Volume of Azerbaijan's trade turnover with Iran shrinks in 1H2020
By Ayya Lmahamad
The volume of trade turnover between Azerbaijan and Iran amounted to $179,275 during the period of January-July 2020, local media reported with reference to the State Customs Committee on August 19.
The volume of trade turnover during the reporting period decreased by 48 percent, compared to the same period last year.
The volume of export operations from Azerbaijan to Iran amounted to $20.787 during the first seven months of the year, which is by 18 percent less compared to the same period of 2019.
Meanwhile, the volume of imports amounted to $158,488, which is by 2 times less compared to the same period last year.
Thus, there is a negative balance of $137,700, showing the decrease in the volume of trade operations between two countries, during the period of January-July 2020.
Earlier, it was reported that the volume of Azerbaijan’s trade operations amounted to $15.3 billion in the period between January and July.
Foreign trade turnover decreased by 30.3 percent in actual prices and by 20.5 percent in real terms, compared to the same period last year. In addition, imports decreased by 42.8 percent, while export by 4.6 percent.
During the reporting period, legal entities and individual entrepreneurs carried out trade operations with partners in 167 countries. Goods were exported to 100 countries and imported from 155 countries.
Among the European countries, Italy topped the list for importing Azerbaijani goods, while among the CIS countries, Russia accounted for the largest volume of export.
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