Export of Azerbaijani products to Belgium slumps

Business Materials 23 August 2020 18:05 (UTC +04:00)
Export of Azerbaijani products to Belgium slumps

BAKU, Azerbaijan, Aug. 23

By Nargiz Ismayilova - Trend:

Belgium's share in the total imports of Azerbaijan decreased from 0.49 to 0.48 percent from January through July 2020 of the total import volume, Trend reports citing the statistical bulletin of the Azerbaijani State Customs Committee.

In the first half of 2020, foreign trade operations of Azerbaijan and Belgium amounted to $29.1 million, which is 1.6 times less compared to the same period of 2019, said the bulletin.

As reported, the export of Azerbaijani products to Belgium in the first seven months of this year amounted $1 million, while a year earlier - $5.1 million. Thus, Belgium purchased 4.9 times less products from Azerbaijan than in the same period of the previous year.

At the same time, Belgium’s share in total exports of Azerbaijan also decreased by about 4 percent, from 0.04 to 0.01 percent of the total export volume.

The import value of Belgian goods by Azerbaijan dropped by almost 44.4 percent, having decreased from $40.6 million to $28.1 million year-on-year, said the report.

Thus, the foreign trade balance of the two countries for the specifying period became turned out to be negative and amounted to $27 million.


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