BAKU, Azerbaijan, June 24
By Fidan Babayeva – Trend:
The foreign trade operations of Azerbaijan and Belarus amounted to $112.6 million from January through May 2020, demonstrating a 21.2 percent growth compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to report, the export of Azerbaijani products to Belarus in the first 5 months of this year amounted to $64.5 million, while a year earlier this figure was equal to $9.1 million.
Thus, over the reporting period, Belarus purchased 7 times more products from Azerbaijan than in the same period of the previous year. The share of Belarus in the total export of Azerbaijan also increased by about 0.8 percent, from 0.11 to 0.93 percent of the total export.
Import of Belarusian products to Azerbaijan almost doubled, declining year on year from $83.7 million to $48.1 million. The share of Belarus in the total import of Azerbaijan also decreased from 1.43 to 1.15 percent of the total import.
In general, the ratio of export-import in foreign trade relations between the two countries for the indicating period has become more balanced towards exports.
So, if from January through May 2019, the foreign trade relations were marked by a significant margin towards imports – 10 percent and 90 percent, respectively, then the ratio of exports to imports in January through May 2020 amounted to 57 percent and 43 percent, respectively.
Thus, the balance of foreign trade between the two countries during the reporting period became positive and amounted to $16.4 million.
In general, in the first 5 months of 2020, the foreign trade turnover of Azerbaijan amounted to $11.1 billion, which is 22.9 percent less compared to the same period of 2019. The balance of foreign trade turnover on an annualized basis increased by 0.9 percent and remained positive, amounting to $2.8 billion.
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