BAKU, Azerbaijan, June 25
By Eldar Janashvili – Trend:
The value of foreign trade operations between Azerbaijan and Turkmenistan from January through May 2020 made up $56.4 million, which is 12.7 percent more than in the same period of last year, Trend reports referring to the statistical bulletin of the country’s State Customs Committee.
According to the committee, in the reporting period, the export of Azerbaijani products to Turkmenistan stood at $7.5 million against $8.2 million in the first five months of 2019. Turkmenistan's share in Azerbaijan’s total exports increased from 0.1 to 0.11 percent.
Imports of Turkmen products to Azerbaijan grew by 16.9 percent, increasing year on year from $41.8 million to $48.9 million. The, share of Turkmenistan in Azerbaijan’s total imports increased from 0.7 to 1.1 percent.
The overall ratio of export-import in foreign trade relations between the two countries neared balance from January through May, while considerably accounting for the import of Turkmen products.
If during the same period in 2019, the imports prevailed over the exports in the foreign trade relations – 83.6 and 16.4 percent, then in 2020, the ratio of imports and exports changed to 86.7 and 13.3 percent, respectively.
Thus, the balance of foreign trade turnover between the two countries over the reporting period remained negative for Azerbaijan, and decreased by another $7.6 million to make up $41.3 million.
In total, from January through May 2020, the foreign trade turnover of Azerbaijan amounted to $11.1 billion, which is 22.9 percent less than the same indicator in 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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