UK's share in total import volume of Azerbaijan grows
BAKU, Azerbaijan, Aug.26
By Nargiz Ismayilova – Trend:
The UK’s share in Azerbaijan’s total import volume grew from 1.64 percent to 3.03 percent in the first 7 months of 2020, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the committee, over the reporting period, foreign trade operations between Azerbaijan and the UK amounted to $188.9 million (down 1.9 times compared to the first 7 months of last year).
Meanwhile, the export of the Azerbaijani products to the UK made up $9.9 million against $237.7 million from January through July 2019. Thus, the volume of products purchased by the UK from Azerbaijan was 24 times less compared to the same period of last year.
The UK’s share in Azerbaijan’s total export volume dipped from 1.94 percent to 0.11 percent.
The export-import ratio in the foreign trade relations between the two countries shifted to the UK’s import of products from Azerbaijan. So, from January through July 2020 the ratio of exports and imports was 0.11 and 3.03 percent respectively against 1.94 and 1.64 percent in the same period of last year.
The imports of the UK products to Azerbaijan increased by almost 29.2 percent year-on-year - from $138.4 million to $178.9 million.
Thus, the foreign trade balance of the two countries for the reporting period became negative and amounted to $169.1 million.
Azerbaijan's foreign trade turnover amounted to $9.1 billion from January through July this year.