BAKU, Azerbaijan, Aug. 31
By Nargiz Ismayilova - Trend:
The foreign trade operations between Azerbaijan and Ireland reached $12.03 million from January through July 2020, which is 18.4 percent more than in the same period of last year, Trend reports citing the statistical bulletin of the Azerbaijani State Customs Committee.
The export of Azerbaijani goods to Ireland in the first seven months of this year amounted to $0.1 million, while a year earlier this figure was $0.02 million, the ministry said.
Thus, Ireland increased the import of goods from Azerbaijan by 4.6 times on an annualized basis while the share of Ireland in the total export volume of Azerbaijan remained stable.
At the same time, the import of Irish goods to Azerbaijan on an annualized basis increased from $10.1 million to $11.9 million.
The share of Ireland in the total import volume of Azerbaijan increased from 0.12 percent to 0.20 percent of the total volume.
The export-import ratio in the foreign trade relations of the two countries from January through July is characterized by a further shift towards the import of products from Azerbaijan.
So, the ratio of export and import reached 2.3 percent and 97.7 percent from January through July 2019 in comparison to January through July 2020 – 1.1 percent and 98.9 percent, respectively.
The share of export of Azerbaijani goods to Ireland in the total trade turnover of the two countries decreased by 1.2 percentage points.
Thus, the balance of foreign trade turnover between Azerbaijan and Ireland remained negative during the reporting period and amounted to $11.7 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 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. 31)
Follow the author on Twitter:@IsmailovaNargis