BAKU, Azerbaijan, June 27
By Fidan Babayeva – Trend:
The foreign trade operations between Azerbaijan and Hungary amounted to $15.6 million from January through May 2020, which is 10 percent more than in the same period of last year, Trend reports on June 27 referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the data, the export of Azerbaijani products to Hungary from January through May 2020 made up $261,000, while a year earlier it was $286,000. Hungary’s share in the total export volume of Azerbaijan remained unchanged.
The import of Hungarian products to Azerbaijan edged up year on year by 10.4 percent, from $13.9 million to $15.3 million. The share of Hungary in the total import volume of Azerbaijan also increased from 0.2 to 0.3 percent of the total volume.
The overall ratio of export-import in foreign trade relations between the two countries from January through May 2020 was even more inclined towards import.
In the first 5 months of 2019, the foreign relations between the countries significantly shifted towards import – 3 percent against 97 percent, whilst in the same period of current year this ratio increased to make up 2 percent versus 98 percent, respectively.
Thus, the balance of foreign trade turnover between Azerbaijan and Hungary during the reporting period was negative and amounted to $15.1 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: @Fidan_Babayeva