Mexico among Azerbaijan's major trade partners in Latin America

By Azernews

By Ayya Lmahamad

The volume of bilateral trade between Azerbaijan and Mexico amounted to $34.5 million during the period of January-July 2020, making Mexico one of Azerbaijan’s main trade partners among Latin America countries.

The bilateral trade between two countries showed positive dynamics despite the crisis over COVID-19.

Trade turnover in July increased by 13 percent compared to June, the Mexican Embassy in Azerbaijan told local media on August 20. 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 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.

Earlier, it was reported that the volume of Azerbaijan’s trade operations amounted to $15.3 billion in the period between January - July, 2020.

Some $5.9 billion of trade operations fell on imports and $9.1 billion on exports.

Likewise, during the first six months of the year, Ecuador, Mexico and Spain were top Spanish-speaking countries with which Azerbaijan conducted most trade transactions.

Trade turnover with Spain amounted to $158.9 million, with Mexico to $30.4 million and with Ecuador to $21.9 million.