Today.Az » Business » Trade turnover with Iran hits $204.2m in Jan-Aug
25 September 2020 [18:15] - Today.Az
By Ayya Lmahamad
Azerbaijan’s foreign trade turnover with neightouring Iran amounted to $204.2 million during the period of January-August 2020, local media has reported.
During the reporting period, Azerbaijan’s foreign trade turnover with the United Arab Emirates amounted to $26 million and with Saudi Arabia to $8.3 million.
Thus, Iran, the United Arab Emirates and Saudi Arabia were the top three counties among the Persian Gulf with which Azerbaijan conducted the most trade operations.
Moreover, these countries are also three leaders among the Persian Gulf countries, in terms of Azerbaijan’s import. Thus, import from Iran amounted to $181.6 million, from the United Arab Emirates to $18.7 million and from Saudi Arabia to $7.1 million.
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. It should be noted that Russia was also Azerbaijan’s third largest trade partner during the reporting period after Italy and Turkey.
Azerbaijan’s top three trading partners among European Union member states were Italy, Germany with $502.5 million and Greece with $354.7 million. Spain with $268.7 million, Mexico with $38.1 million and Ecuador with $27.6 million were the top three countries with which Azerbaijan conducted the most trade transactions from among Spanish-speaking countries.
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.
The trade turnover with Italy accounted for $3.3 billion out of Azerbaijan’s overall trade turnover of $16.5 billion, which made Italy main trading partner in the period between January and August 2020.