BAKU, Azerbaijan, June 26
By Eldar Janashvili – Trend:
The foreign trade operations between Azerbaijan and Belgium amounted to $20.6 million from January through May 2020, which is almost two-fold less than in the same period of last year, Trend reports on June 26 referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the data, the export of Azerbaijani products to Belgium from January through May 2020 made up $1 million, while a year earlier – over $5 million.
Thus, Belgium purchased the products from Azerbaijan by nearly five times less than in the same period of last year. Belgium’s share in the total export volume of Azerbaijan shrank by about 0.05 percent.
The import of Belgian products to Azerbaijan declined year on year from $30.9 million to $19.6 million. The share of Belgium in the total import volume of Azerbaijan declined from 0.06 percent to 0.47 percent of the total volume.
In general, the ratio of export-import in foreign trade relations between the two countries from January through May 2020 increased shifting towards the import of Belgian products to Azerbaijan.
Thus, if in the first five months of 2019, import prevailed over export (85.8 percent to 14.2 percent), in the same period of the current year, the prevalence became more apparent to make up 95.1 percent against 4.9 percent, respectively.
Nevertheless, the negative balance of foreign trade turnover between Azerbaijan and Belgium during the reporting period decreased and amounted to $18.6 million.
In general, the foreign trade turnover of Azerbaijan amounted to $11.1 billion from January through May 2020, which is 22.9 percent less than in 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.
----
Follow the author on Twitter: @eldarjanashvili