BAKU, Azerbaijan, June 25
By Eldar Janashvili - Trend:
Foreign trade operations of Azerbaijan and Moldova amounted to $5 million from January through May 2020, having tripled compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the report, the export of Azerbaijani products to Moldova in the first five months of this year amounted to $3.2 million, while a year earlier this figure stood at less than $200,000.
Over the reporting period, Moldova purchased products from Azerbaijan by 16 times more than in the same period of the previous year. The share of Moldova in the total export of Azerbaijan also increased by about 0.05 percent of the total export.
Import of Moldavian products to Azerbaijan grew by 23.7 percent, having increased from $1.5 million to $1.8 million over the year. The share of Moldova in the total import of Azerbaijan also rose roughly by 0.01 percent, up to 0.04 percent of the total import.
In general, the ratio of export-import in foreign trade relations between the two countries for the first five months of this year changed the vector and shifted significantly towards the export of Azerbaijani products to Moldova.
If for the same period of 2019, foreign trade relations were marked by a significant overweight towards imports - 88.6 and 11.7 percent, then the ratio of exports and imports in the reporting months amounted to 63.4 and 36.6 percent, respectively.
Thus, the balance of foreign trade between the two countries for the reporting period left the red zone and became positive for Azerbaijan, having surpassed $1.3 million.
In general, in the reporting period, Azerbaijan’s foreign trade turnover made up over $11.1 billion, which is 22.9 percent less compared to 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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