Value of Azerbaijan's export to US surges for 10M2021

By Trend

Trade turnover between Azerbaijan and the US declined from January through October 2021, Trend reports citing the State Customs Committee (SCC) of Azerbaijan.

According to the SCC, this figure totaled $426.5 million, down by $158.7 million (almost 37.21 percent) compared to the first 10 months of 2020.

Azerbaijani exports to the US from January through October this year amounted to $60.7 million (an increase of 2.4 times on annual basis), and imports from the US - $365.7 million (a decrease of 35.5 percent), the committee said.

Meanwhile, the share of exports of non-oil products to the US amounted to 0.36 percent of the total Azerbaijani exports of non-oil products, and imports – 3.92 percent.

Totally, Azerbaijan's foreign trade turnover exceeded $26.1 billion. Of these, over $16.8 billion (64.56 percent) accounted for exports, and more than $9.3 billion (35.44 percent) - imports.

The balance of foreign trade turnover of Azerbaijan, remaining positive, increased by 2.2 times on annual basis - up to 7.5 billion manat ($4.4 billion), while in 10M2020, the foreign trade surplus amounted to over $3.4 billion.