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Yuan's decline promises additional profits to Azerbaijan in trading with China - RESEARCH

It may lead to monthly average savings conditionally  in the amount of 2 million dollars for Azerbaijan in the trade operations with this country

Baku. 13 August. REPORT.AZ/ The devaluation of the national currency of China Central Bank (CMB) - Yuan by 4.6% against the dollar within the last 3 days may lead to monthly average savings conditionally in the amount of 2 million dollars for Azerbaijan in the trade operations with this country.

The analyst group of Report note that Azerbaijan's trade turnover with China constituted to 288.4 million dollars in the first half of this year, 259.3 million dollars of it was spent on import operations. After the recent devaluation in China, Azerbaijani side will pay less than 4.6% for Chinese goods. It is equal to about 12 million dollars for the half-year. China ranked the sixth in importing to Azerbaijan in the first 6 months of 2015.

Compared to the same period last year, Azerbaijan's imports from China decreased by 50.6 million dollars or 16.3%.

China's decision on the devaluation of Yuan is expected to continue by the end of this year. Thus, the German "Deutsche Bank" predicts that Yuan will decline by 10% more till the end of this year.

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