Azernews.Az

By Ayya Lmahamad

Azerbaijan increased the volume of trade turnover with the Latin American country Ecuador in the first seven months of 2020, local media reported with reference to the State Customs Committee on August 27.

According to the report, the trade turnover with Ecuador amounted to $24.8 million, with an increase compared to the same period last year.

Trande turnover with Spain amounted to $262.6 million, while with Mexico to $34.5 million, with a decrease in total volume of trade turnover compared to the same period of 2019.

Thus, Spain, Mexico and Ecuador were the top three countries with which Azerbaijan conducted the most trade transactions from among Spanish-speaking countries.

Moreover, these countries were also leaders in terms of import among Spanish-speaking countries. Thus, value of import from Spain amounted to $34.8 million, from Mexico to $34.3 million and from Ecuador to $24.8 million, during the first seven months of the year. The cost of import from Spain and Mexico has decreased, while from Ecuador has increased, compared to the same period of 2019.

Earlier, the Mexican Embassy in Azerbaijan told that trade turnover between two countries in July increased by 13 percent compared to June. However, the total value of trade turnover decreased by 5 percent during the first seven months of the year, compared to the same period in 2019.

It should be noted that Mexico ranks 26th among the countries importing goods from Azerbaijan.

The main product exported from Mexico to Azerbaijan is related to energy and transport sectors, mainly reflected in the sale of pipes for the oil sector and cars of various size used for urban transport.

Likewise, the largest export volume from Azerbaijan among Spanish-speaking countries accounts for Spain, Argentina and Colombia.

Thus, exports to Spain amounted to $227.7 million, to Argentina to $1.7 million and export to Columbia was negligible. During the reporting period, export to Spain decreased, while with Argentina increased.

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. Meanwhile, imports amounted to $5.9 billion, which is 38.54 percent from the total volume of foreign trade.

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