BAKU, Azerbaijan, June 29
By Fidan Babayeva – Trend:
Azerbaijan exported products worth $56.3 million to the Netherlands from January through May 2020, which is 23 times more than during the same period of last year, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.
The Netherlands’ share in the total export volume of Azerbaijan increased from 0.03 to 0.65 percent.
The foreign trade operations between Azerbaijan and the Netherlands amounted to $117.5 million in the reporting period.
In turn, the import of products from the Netherlands to Azerbaijan increased year-on-year by 1.7 times from $35.2 million to $61.2 million. The share of the Netherlands in the total import volume of Azerbaijan also grew from 0.85 to 1.05 percent of the total volume.
The overall ratio of export-import in foreign trade relations between the two countries remained inclined towards import from January through May 2020.
During the first five months of 2019, the foreign trade relations were characterized by significant inclination of import over export - 94 percent against 6 percent, whilst in the same period of 2020, the prevalence of imports over exports decreased to make up 62 percent against 48 percent respectively.
Thus, the balance of foreign trade turnover between the two countries over the reporting period was negative and make up $4.9 million.
In general, 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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