BAKU, Azerbaijan, Aug.30
By Nargiz Ismayilova – Trend:
The foreign trade operations between Azerbaijan and Latvia amounted to $7.5 million from January through July 2020, 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 goods to Latvia made up $185,000, while a year earlier it was $534,000. Thus, on an annualized basis Latvia’s import of Azerbaijani products dropped by 2.83 times, and its share in Azerbaijan’s total exports remained stable.
Meanwhile, the imports of Latvia goods to Azerbaijan grew year on year from $6.9 million to $7.3 million. The share of Latvia in the total import volume of Azerbaijan rose from 0.08 percent to 0.12 percent.
The ratio of export-import in foreign trade relations between the two countries from January through July 2020 continued shifting towards the import of goods from Latvia.
In the first 7 months of 2020, the ratio of export to import was 2.4 percent to 97.6 percent, respectively, against 7.1 percent to 92.9 percent in the same period of last year. The share of exports of Azerbaijani goods to Latvia in the total turnover of the two countries decreased by 2.7 percent.
Thus, the balance of foreign trade turnover between the countries during the reporting period remained negative, making up $7.3 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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