Azernews.Az

By Leman Mammadova

The volume of import-export operations between Azerbaijan and Ukraine in January this year exceeded $ 74 million, the State Statistics Committee of Ukraine told AZERTAC.

Products worth about $ 36.08 million were exported from Azerbaijan to Ukraine in January, while Azerbaijan's imports from Ukraine amounted to $ 38.2 million.

Ukraine is in the second place after Russia in terms of largest trade partners of Azerbaijan in the post-Soviet space.

Azerbaijan is considered one of the main trade partners of Ukraine among the CIS countries.

Main goods imported from Ukraine to Azerbaijan are metallurgy products, machine building products, agro-industrial products and chemical industry products. Meanwhile, the main goods exported from Azerbaijan to Ukraine are products of fuel energy industry, chemical industry products, and agro-industrial products.

Azerbaijan and Ukraine enjoy sustainable prospects of bilateral relations in political, economic, energy, transport and humanitarian fields.

The trade growth started in 2005 and reached $ 1.5 billion in peak points in 2011, export products amounted $ 909 million, while import - $ 558 million.

Since 2012, the trade turnover between the two countries has declined significantly, although until 2012 it was approximately $1.5 billion.

From 2016 to 2017, trade turnover increased 2.5 times, exceeded $800 million, though it was $300 million until 2016.

In 2018 the trade turnover between the two countries has been the highest in the last five years.

The volume of import-export operations between Azerbaijan and Ukraine in 2018 amounted to about $ 829 million, which is $ 18 million more than in 2017. The cost of Azerbaijan's imports from Ukraine amounted to $ 469 million 798 thousand in 2018, while $ 358 million 738 thousand worth of products were exported from Azerbaijan to Ukraine.

Recently, Azerbaijan and Ukraine have been engaged in active developments of economic cooperation. In June 2018, the first Trade House of Azerbaijan was opened in Kiev, analogous houses are planned to open in other cities of the country.

Direct investments from Ukraine to Azerbaijan exceed $25 million, and from Azerbaijan to Ukraine - $200 million.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

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