Azerbaijan's trade turnover with Saudi Arabia up in Jan-July

By Ayya Lmahamad

Azerbaijan increased the volume of trade turnover with Saudi Arabia in January-July 2020, local media reported with the reference to State Customs Committee on August 27.

According to the statement, Azerbaijan’s trade turnover with Saudi Arabia during the reporting period amounted to $7.1 million. Meanwhile, trade turnover with Iran amounted to $179.2 million, and with the United Arab Emirates $22.6 million.

Thus, Iran, the United Arab Emirates and Saudi Arabia were among the three leading countries of the Persian Gulf with which Azerbaijan conducted the most trade operations.

It should be noted that the trade turnover with Iran and the United Arab Emirates decreased in comparison to the same period last year, while with Saudi Arabia increased.

Moreover, these countries were also top three leaders in terms of Azerbaijani import. Thus, import from Iran amounted to $158.4 million, from the United Arab Emirates to $16.2 million, and from Saudi Arabia to $6 million.

Likewise, Iran, the United Arab Emirates and Qatar are accounted for the largest volume of export from Azerbaijan, during the first seven months of the year.

Thus, export to Iran amounted to $20.7 million, to the United Arab Emirates to $6.3 million and to Qatar amounted to $1.1 million. It should be noted that there was a decrease in terms of export volumes with Iran and the United Arab Emirates, and increase with Qatar.

Earlier it was reported that, Azerbaijan’s top trade partners among Organization of Islamic Cooperation were Turkey, Iran and Tunisia. Thus, the trade turnover with Turkey amounted to $2.5 billion, with Iran to $179.2 million and with Tunisia to $174.9 million in January-July 2020.

Furthermore, Russia was the leader among Azerbaijan’s trade partners among the CIS countries as well as the country’s third largest trade partner with the volume of trade turnover between the two countries reaching $1.5.

Additionally, Spain, Mexico and Ecuador were the top three countries with which Azerbaijan conducted the most trade transactions from among Spanish-speaking countries. Thus,  the trade turnover with Ecuador amounted to $24.8 million, Spain amounted to $262.6 million, while with Mexico to $34.5 million.

The volume of Azerbaijan’s foreign trade turnover amounted to $15 billion in the period between January and July 2020.

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