BAKU, Azerbaijan, Sept. 5
Bu Fidan Babayeva – Trend:
The value of export of Azerbaijani products to Kazakhstan amounted to $16.5 million in the first seven months of 2020, increasing by 14.4 percent compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
"In the reporting period, Kazakhstan purchased products from Azerbaijan by $2 million more than in the same period of the previous year. Kazakhstan’s share in the total export of Azerbaijan also increased from 0.12 to 0.18 percent of the total export volume," said the SCC’s bulletin.
"At the same time, import of Kazakh products by Azerbaijan dropped almost 3.5 times, decreasing from $144 million to $48.2 million year on year. The share of Kazakhstan in the total imports of Azerbaijan decreased from 1.71 to 0.82 percent of the total import volume," the report noted.
The SCC’s report said the volume of foreign trade operations of Azerbaijan and Kazakhstan amounted to $64.7 million, showing a decrease of 2.4 times over the year.
"The export-import ratio in the foreign trade relations of the two countries remained notably shifted towards the import of Kazakh products. So, if for the same period of 2019 foreign trade relations were marked by a substantial margin towards imports - 91 and 9 percent, respectively, then the ratio of imports and exports for the first seven months of this year was 75 and 25 percent, respectively.
Thus, the foreign trade balance of the two countries for the reporting period remained negative for Azerbaijan and made up $31.7 million.
From January through July 2020, Azerbaijan's foreign trade turnover surpassed $15 billion, which is 1.4 times less compared to the same period of 2019. The balance of foreign trade turnover decreased 1.1 times on an annualized basis, and remained positive, amounting to $3.2 billion.
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