BAKU, Azerbaijan, Aug.29
By Nargiz Ismayilova – Trend:
The foreign trade operations between Azerbaijan and Luxembourg amounted to $14.8 million from January through July 2020, which is 4.9 percent more than in the same period of last year, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the committee, in the reporting period, the export of Azerbaijani products to Luxembourg made up $12.9 million, while a year earlier –more than $12.1 million. Thus, on annualized basis Luxembourg increased import of Azerbaijani products by 1.03 times, and its share in Azerbaijan’s total export grew from 0.1 percent to 0.14 percent.
Meanwhile, the import of Luxembourg products to Azerbaijan declined year on year from $1.98 million to $1.93 million. The share of Luxembourg in the total import volume of Azerbaijan rose from 0.02 percent to 0.03 percent.
The ratio of export-import in foreign trade relations between the two countries from January through July 2020 continued shifting towards export of products from Azerbaijan.
In the first 7 months of 2020 the ratio of export to import was 87.2 percent to 12.8 percent, respectively, against 86.2 percent to 13.8 percent in the same period of last year. The share of exports of Azerbaijani products to Luxembourg in the total turnover of the two countries increased by 1 percent.
Thus, the balance of foreign trade turnover between the countries during the reporting period remained positive, making up $10.97 million.
In general, the foreign trade turnover of Azerbaijan 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.
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