By Ayya Lmahamad
Azerbaijan’s foreign trade turnover with Ecuador increased during the period of January-August 2020, local media has reported.
Thus, during the reporting period, trade turnover between two countries amounted to $27.6 million against $21.3 million during the same period of 2019.
Moreover, Spain, Mexico and Ecuador were the top three countries with which Azerbaijan conducted the most trade transactions from among Spanish-speaking countries.
Trade turnover with Spain, during the reporting period, amounted to $268.7 million, against $585 million in 2019. In the meantime, trade turnover with Mexico also decreased from $39.5 million in 2019 to $38.1 million in 2020.
Likewise, these countries are also three leaders among the Spanish-speaking countries, in terms of Azerbaijan’s import. In the meantime, Azerbaijan has increased import from Ecuador and decreased from Spain and Mexico.
During the reporting period, import from Ecuador amounted to $27.6 million, against $21.3 million during the same period of 2019. Import from Spain decreased from $44.9 million in 2019, to $40.5 million in 2020. In addition, import from Mexico decreased from $39.4 million in 2019 to $37.9 million in 2020.
Additionally, Spain, Argentina and Colombia were three leaders among the Spanish-speaking countries in terms of Azerbaijan’s export.
Azerbaijan’s export to Argentina has increased from $40,180 in 2019 to $3.3 million in the first eight months of 2020. Exports to Spain amounted to $228.1 million in 2020, against the $540 million in 2019. In addition, Azerbaijan’s export to Columbia amounted to $641,160 during the reporting period.
Earlier it was reported that Iran with $204.2 million, the United Arab Emirates with $26 million and Saudi Arabia with $8.3 million were the top three counties among the Persian Gulf with which Azerbaijan conducted the most trade operations during the period of January-August 2020.
As to the CIS region, the top three leaders among CIS countries with which Azerbaijan conducted the most trade operations were Russia with $1.7 billion, Ukraine with $555 million and Belarus with $170 million.
Azerbaijan’s top three trading partners among European Union member states were Italy with $3.3 billion, Germany with $502.5 million and Greece with $354.7 million. Italy is Azerbaijan’s main trading partner in the period between January and August 2020.
Azerbaijan’s foreign trade turnover amounted to $16.5 billion during the period of January-August 2020. The value of export amounted to $9.8 billion or 59.6 percent of the total turnover, while the value of import amounted to $6.6 billion or 40.4 percent. Thus, foreign trade turnover resulted in surplus of $3.1 billion.
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