BAKU, Azerbaijan, Oct. 6
By Fidan Babayeva - Trend:
The volume of foreign trade operations between Azerbaijan and Malaysia exceeded $100.5 million in the past eight months of 2020, which is 2.4 times more compared to the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the ministry, imports of Malaysian products to Azerbaijan decreased from $42.2 million to $40 million on an annualized basis. Malaysia’s share in Azerbaijan's total imports amounted to 0.6 percent of the total import volume, while a year earlier - 0.45 percent.
At the same time, exports from Azerbaijan to Malaysia in the first eight months of this year made up $60.4 million, while a year earlier this figure was $405,000. Thus, the share of Malaysia in the total export of Azerbaijan increased from 0 to 0.61 percent.
Thus, the balance of foreign trade turnover between Azerbaijan and Malaysia for the reporting period remained positive, amounting to $20.4 million.
Cooperation between the two states is carried out mainly in areas such as energy and transport. The main export products of Malaysia are fuel, chemical components, palm oil, and so on.
Azerbaijan's foreign trade turnover for the mentioned eight months amounted to $16.5 billion, which is 27.6 percent less compared to 2019.
The balance of foreign trade turnover decreased by 22.9 percent on an annualized basis, but remained positive, amounting to $3.18 billion.
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