Foreign trade operations between Azerbaijan, Belarus expanding
BAKU, Azerbaijan, Sept. 1
By Fidan Babayeva - Trend:
Foreign trade operations between Azerbaijan and Belarus surpassed $130.9 million from January through July 2020, which is 8.7 percent more compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
The value of exports of Azerbaijani goods to Belarus for the first seven months of this year exceeded $66.7 million, while a year earlier this figure was $11.4 million. Thus, Belarus increased the imports of Azerbaijani goods by more than 5 times. Belarus’ share in total exports of Azerbaijan grew from 0.09 to 0.73 percent.
At the same time, the import of Belarusian products to Azerbaijan declined from $109 million to $64.1 million. The share of Belarus in the total import of Azerbaijan made up 1.09 percent of the total import volume, while a year earlier it was 1.29 percent.
If for the same period of 2019 the ratio of exports and imports in foreign trade relations of the two countries was 10 and 90 percent, respectively, then in the first seven months of 2020 it was 51 and 49 percent, respectively. Thus, the balance of foreign trade turnover of Azerbaijan with Belarus for the reporting period remained positive, amounting to over $2.6 million.
Over the reporting period, Azerbaijan's foreign trade turnover amounted to $15 billion, which is 1.4 times less compared to the same period of last year. The balance of foreign trade turnover decreased by 1.1 times on an annualized basis and remained positive, amounting to $3.2 billion.
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