BAKU, Azerbaijan, June 26
By Fidan Babayeva – Trend:
The import of products from the UK to Azerbaijan increased by 10.4 percent over the first 5 months of 2020, compared to the same period in 2019, and made up $108.3 million, Trend reports referring to the statistical bulletin of the Azerbaijani State Customs Committee on June 26.
The UK’s share in the total import volume of Azerbaijan also grew from 1.68 percent to 2.6 percent of the total volume.
The foreign trade operations between Azerbaijan and the UK amounted to $116.4 million from January through May this year.
According to the data, in the reporting period export of Azerbaijani products to the UK made up $8.1 million, while a year earlier –$106.3 million. Thus, the UK purchased the products from Azerbaijan by 13 times less than in the same period of last year. The UK’s share in the total export volume of Azerbaijan decreased from 2.13 percent to 0.12 percent.
In general, the ratio of export-import in foreign trade relations between the two countries from January through May 2020 shifted towards import of the UK products to Azerbaijan.
In the first 5 months of 2019 the foreign relations showed considerable shifting towards export (65 percent to 35 percent, respectively), whilst in the same period of current year the ratio of export-import made up 7 percent to 93 percent.
Thus, the balance of foreign trade turnover between Azerbaijan and Belgium during the reporting period was negative and amounted to $100.2 million.
In general, the foreign trade turnover of Azerbaijan amounted to $11.1 billion from January through May 2020, which is 22.9 percent less than in the same period of 2019.
The balance of foreign trade turnover on an annual basis increased by 0.9 percent and remained positive, amounting to $2.8 billion.
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