BAKU, Azerbaijan, June 27
By Fidan Babayeva – Trend:
The foreign trade operations between Azerbaijan and Spain surpassed $121.9 million from January through May 2020, which is 3.7 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 report, the export of Azerbaijani products to Spain amounted to $95.9 million in the first five months of this year, while a year earlier it was $426.4 million. Spain's share in total exports of Azerbaijan decreased from 4.95 to 1.38 percent.
The import of products from Spain to Azerbaijan dropped 1.1 times from $28.6 million to $25.9 million year-on-year. Spain's share in total imports of Azerbaijan also decreased - from 0.49 to 0.62 percent of the total.
In the reporting period, the ratio of export-import operations in the foreign trade relations of the two countries shifted towards export.
In the first five months of 2019, there was also a significant shift towards export in the foreign trade relations, and the ratio of export to import for January through May 2020 amounted to 78 and 22 percent, respectively.
Thus, the balance of foreign trade between the two countries during the reporting period was positive and amounted to $69.9 million.
In general, the foreign trade turnover of Azerbaijan amounted to $11.1 in the first five months of this year, having shown a 22.9-percent annual drop. The balance of foreign trade turnover on an annualized basis increased by 0.9 percent and remained positive, amounting to $2.8 billion.
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