BAKU, Azerbaijan, June 25
By Eldar Janashvili - Trend:
The foreign trade operations between Azerbaijan and Kazakhstan amounted to $44 million from January through May 2020, having dropped 2.8 times compared to the same period of 2019, Trend reports citing statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the report, the export of Azerbaijani products to Kazakhstan in the first five months of this year amounted to $12.6 million, while a year earlier this figure was equal to $9.8 million.
Thus, over the reporting period, Kazakhstan purchased products from Azerbaijan by $2.7 million more than in the same period of the previous year. The share of Kazakhstan in the total export of Azerbaijan also increased by about 0.07 percent, from 1.11 to 1.18 percent of the total export.
Import of Kazakh products to Azerbaijan dropped almost three times, declining year-on-year from $114.7 million to $31.3 million. The share of Kazakhstan in the total import of Azerbaijan also decreased by 1.22 percent, from 1.97 to 0.75 percent of the total import.
In general, the ratio of export-import in foreign trade relations between the two countries for the reporting period remained significantly biased towards the import of Kazakhstani products.
Thus, if for the same period of 2019, foreign trade relations were markedly outweighed by imports - 92.1 and 7.9 percent, then the ratio of imports and exports in the reporting period amounted to 71.3 and 28.7 percent, respectively.
Thus, the balance of foreign trade between the two countries for the reporting period remained negative for Azerbaijan and decreased by $93.6 million to $ -18.7 million.
In the first five months of 2020, the total 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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