BAKU, Azerbaijan, Aug. 27
By Nargiz Ismayilova – Trend:
Some $12.7 million accounted for the foreign trade operations between Azerbaijan and Finland from January through July 2020, which is 2.8 times less than in the same period of last year, Trend reports on Aug. 27 referring to the statistics bulletin of the Azerbaijani State Customs Committee.
The export of Azerbaijani products to Finland reached $0.1 million from January through July 2020, while a year earlier this figure reached $0.2 million, the ministry said.
Thus, on an annualized basis, Finland’s import of products from Azerbaijan decreased by 64.7 percent while Finland's share in the total export volume of Azerbaijan remained stable.
At the same time, the import of Finnish products to Azerbaijan on an annualized basis decreased from $36.1 million to $12.5 million.
Finland’s share in the total import volume of Azerbaijan decreased from 0.43 percent to 0.21 percent of the total volume.
The export-import ratio in foreign trade relations between the two countries from January through July is characterized by the further shift towards import of products from Finland.
So, the ratio of export and import reached 0.05 percent and 99.5 percent from January through July 2019, then from January through July 2020 - 1.6 percent and 98.4 percent, respectively.
Thus, the balance of foreign trade turnover between Azerbaijan and Finland became negative over the reporting period and amounted to $12.2 million.
In general, Azerbaijan's foreign trade turnover amounted to $15.03 billion from January through July 2020, which is 1.4 times less than in the same period of 2019.
The balance of foreign trade turnover on an annualized basis decreased by 1.1 times and remained positive, amounting to $3.2 billion.
(1 USD = 1.7 AZN on Aug. 27)
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