BAKU, Azerbaijan, June 25
By Eldar Janashvili – Trend:
The value of foreign trade operations between Azerbaijan and Uzbekistan from January through May 2020 made up $30.5 million, which is 24 percent more than in the same period of last year, Trend reports on June 25 referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the bulletin, in the reporting period, the export of Azerbaijani products to Uzbekistan stood at $4.8 million against $6.1 million in the first 5 months of 2019. Thus, volume of products from Azerbaijan purchased by Uzbekistan declined by 25 percent. Uzbekistan's share in Azerbaijan’s total exports remained at 0.07 percent.
Imports of Uzbek products to Azerbaijan grew by 43 percent, increasing year on year from $17.9 million to $25.6 million. Share of Uzbekistan in Azerbaijan’s total imports increased from 0.3 to 0.6 percent.
The overall ratio of export-import in foreign trade relations between the two countries shifted towards import from January through May.
If during the same period in 2019, imports prevailed over exports in the foreign trade relations – 75 versus 25 percent, then in 2020, the ratio of exports to imports changed to 16 versus 84 percent, respectively.
Thus, the balance of foreign trade turnover between the two countries over the reporting period became negative to make up $20.8 million.
In total, from January through May 2020, the foreign trade turnover of Azerbaijan amounted to $11.1 billion, which is 22.9 percent less than the same indicator in 2019. 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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