Germany plans to boost exports to Azerbaijan, AHK executive says
Germany plans to increase exports to Azerbaijan to over $500 million by the end of 2023, according to Azerbaijan in Focus, reporting Trend, citing the Executive Director of the German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) Tobias Baumann.
According to him, the surplus of foreign trade turnover between Azerbaijan and Germany in 2022 amounted to over $1.2 billion.
“Germany exported goods to Azerbaijan for $472 million, and imported – for $1.7 billion. The largest volume of German imports from Azerbaijan fell on products of the oil and gas sector,” he said.
Trade turnover between Azerbaijan and Germany from January through April 2023 amounted to $578.9 million. Azerbaijan imported goods worth $263.4 million from Germany and exported goods worth $315.49 million.
In the first four months of this year, the value of the export of Azerbaijani oil and petroleum products to Germany amounted to $301.35 million, which is 65.75 percent or $119.5 million more than in the same period in 2022.