Azerbaijan, Georgia boost trade turnover by $186.2m

By Azernews

By Ayya Lmahamad

Azerbaijan and Georgia have increased the trade turnover by $186.2 million in January-November 2021, the State Customs Committee has reported.

During the first 11 months of 2021, the bilateral trade turnover amounted to $684.8 million, with exports accounting for $591.8 million and imports for $92.9 million.

It should be noted that the trade turnover between Azerbaijan and Georgia amounted to $498.6 million during the corresponding period of 2020. In addition, Georgia was Azerbaijan's 11th largest trade partner in 2020, with a trade turnover amounting to $536.2 million.

Azerbaijan and Georgia are cooperating in various fields of economy. Earlier last year, Azerbaijan and Georgia have signed several cooperation agreements within the framework of a meeting of the joint intergovernmental commission on economic cooperation. 

At the same time, in December 2021, Azerbaijan, Georgia, and Turkey have signed five memorandums and agreements on cooperation as part of the trilateral business forum held in Baku.

Azerbaijan was Georgia’s main bitumen supplier in 2020, accounting for 63.8 percent of this country's total imports of bitumen. At the same time, Azerbaijan was the largest diesel fuel supplier to Georgia in 2020 as well, accounting for 19.4 percent of total imports. Meanwhile, Azerbaijan was Georgia’s largest electricity supplier in 2020, accounting for 45 percent or 726 million kWh of the country’s total electricity import.