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Volume of S.Korean goods import to Azerbaijan grows

Business Materials 4 July 2020 16:09
Volume of S.Korean goods import to Azerbaijan grows

BAKU, Azerbaijan, July 4

By Fidan Babayeva – Trend:

The import of products from South Korea to Azerbaijan increased by 11 percent over the first 5 months of 2020, compared to the same period of last year, and made up $71.6 million, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.

In the reporting period, South Korea’s share in the total import volume of Azerbaijan also grew from 1.1 percent to 1.7 percent of the total volume.

Meanwhile, the export of Azerbaijani products to South Korea made up $50,000, which is 60 percent less than in the first 5 months of last year. South Korea’s share in the total export volume of Azerbaijan remained unchanged.

The foreign trade operations between Azerbaijan and South Korea amounted to $71.5 million from January through May this year (down 11 percent compared to the same period of 2019).

The balance of foreign trade turnover between Azerbaijan and South Korea during the reporting period was negative for Azerbaijan and amounted to nearly $71.4 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.

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Follow the author on Twitter: @Fidan_Babaeva

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