Imports of Chinese goods to Azerbaijan climbs
BAKU, Azerbaijan, Aug.27
By Nargiz Ismayilova – Trend:
The foreign trade operations between Azerbaijan and China amounted to slightly over $1.1 billion in the past seven months of 2020 (down 23.6 percent compared to the same period of last year), Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the committee, over the reporting period, the export of the Azerbaijani products to China made up $371.1 million against $687.3 million from January through July 2019. Thus, China reduced the volume of imports from Azerbaijan by 53.9 percent year-on-year, and China’s share in Azerbaijan’s total export volume decreased from 5.6 percent to 4.06 percent.
Meanwhile, the import of products from China to Azerbaijan increased from $727.1 million to $777.1 million. China’s share in Azerbaijan’s total import volume rose from 8.62 percent to 13.17 percent in the first 7 months of 2020.
The export-import ratio in the foreign trade relations between the two countries continued shifting to imports from China. So, in the first 7 months of 2020, the ratio of exports and imports was 48.6 and 51.4 percent respectively against 29.5 and 70.5 percent in the same period of last year.
The share of exports of Azerbaijani products to China in the total trade turnover of the two countries grew by 19.1 percent.
Thus, the foreign trade balance of the two countries for the reporting period became negative and amounted to $406 million.
Azerbaijan's foreign trade turnover amounted to $15.03 billion from January through July this year, down 1.4 times compared to the same period of last year. The balance of foreign trade turnover year-on-year decreased by 1.1 times and remained positive, amounting to $3.2 billion.
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