BAKU, Azerbaijan, Aug.31
By Nargiz Ismayilova – Trend:
The foreign trade operations between Azerbaijan and Hungary amounted to over $23.3 million from January through July 2020, increase of 23.9 percent compared to the same period of 2019, 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 Hungary made up $347,000, while a year earlier – $458,000. Thus, on annualized basis Hungary’s import of Azerbaijani products dropped by 24.2 times, and its share in Azerbaijan’s total export remained stable.
Meanwhile, the import of Hungary products to Azerbaijan grew year on year from $18.4 million to $22.9 million. The share of Hungary in the total import volume of Azerbaijan rose from 0.22 percent to 0.39 percent.
The ratio of export-import in foreign trade relations between the two countries from January through July this year continued shifting towards import of products from Azerbaijan.
In the first 7 months of 2020 the ratio of export to import was 1.4 percent to 98.6 percent, respectively, against 2.4 percent to 97.6 percent in the same period of last year. The share of exports of Azerbaijani products to Hungary in the total turnover of the two countries decreased by 1 percent.
Thus, the balance of foreign trade turnover between the countries during the reporting period remained negative, making up $22.6 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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