By Ayya Lmahamad
The volume of foreign trade operations between Azerbaijan and Russia increased by 6.1 percent during the period of January-July 2020, Trend reported with reference to State Customs Committee.
According to the report, the volume of foreign trade operations between two countries amounted to $1.5 billion.
Export of Azerbaijani products to Russia amounted to $430 million during the first seven months of the year, compared to the $423 million during the same period last year.
Meanwhile, import of Russian products to Azerbaijan decreased from $1.1 billion in 2019 to $1.08 billion in 2020.
Export-import ration in foreign trade operations of two countries was 28 and 72 percent, respectively, during the first seven months of the year. By comparison, export-import ration in foreign trade operation of two countries was 26 and 74 percent, respectively in 2019.
Thus, the share of export of Azerbaijani products to Russia, in the total trade turnover of two countries, increased by 2 percent.
It should be noted that Russia was the leader among Azerbaijan’s trade partners among the CIS countries as well as the country’s third largest trade partner.
Italy was Azerbaijan’s main trading partner in the period between January and July 2020. The trade turnover with Italy accounted for $3.7 billion out of Azerbaijan’s overall trade turnover of $15 billion in the first seven months of the year. Azerbaijan’s second largest trade partner during the reporting period was Turkey with the trade turnover of $2.5 billion.
The volume of Azerbaijan’s foreign trade turnover amounted to $15 billion in the period between January and July 2020. During the reporting period, export amounted to $9.1 billion, which is 61.46 percent of the total volume of foreign trade. The volume of imports amounted to $5.9 billion.
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