Azerbaijan nearly triples revenues from sugar exports

Azerbaijan exported $81.3 million worth of sugar and confectionery products in January-July this year, Report informs, citing the State Customs Committee.

This figure is $49.5 million, or 2.5 times, higher than in the same period last year.

During the reporting period, Azerbaijan also imported $166.7 million worth of sugar and confectionery products, up $15.8 million, or 10.4%, year-on-year.

In the first seven months of the year, sugar and confectionery products accounted for 1.6% of Azerbaijan's total imports and 0.4% of total exports.

Overall, Azerbaijan conducted foreign trade transactions worth $29.22 billion during the seven-month period, representing a 1.3% increase compared with the same period last year.

Exports accounted for $19.34 billion of total foreign trade turnover, while imports amounted to $9.88 billion. Exports increased by 27% year-on-year, while imports declined by 27.4%.

As a result, Azerbaijan recorded a positive foreign trade balance of $9.46 billion, which was 5.9 times higher than a year earlier.