BAKU, Azerbaijan, June 27
By Eldar Janashvili – Trend:
The foreign trade operations between Azerbaijan and Italy amounted to $2.6 billion from January through May 2020, which is $1 billion less than in the same period of last year, Trend reports on June 27 referring to the statistical bulletin of the Azerbaijani State Customs Committee.
According to the data, the export of Azerbaijani products to Italy from January through May 2020 made up $2.4 billion, while a year earlier it was $2.5 billion. Thus, the export of Azerbaijani products to Italy decreased year-on-year by $130 million. Nevertheless, the share of Italy in the total export volume of Azerbaijan increased by 5.2 percent.
The import of Italian products to Azerbaijan grew year-on-year by 9 percent to $169.3 million. The share of Italy in the total import volume of Azerbaijan surged two-fold by 1.4 percent to 4.1 percent of the total volume.
The ratio of export and import in foreign trade relations between the two countries from January through May 2020 slightly shifted towards import of Italian products to Azerbaijan.
In the first 5 months of 2019, the export-import ratio made up 94.7 percent against 5.3 percent, whilst in the same period of current year this ratio was 93.4 percent versus 6.6 percent, respectively. The share of Italian products’ import to Azerbaijan climbed by 1.3 percent.
Thus, the balance of foreign trade turnover between Azerbaijan and Italy during the reporting period decreased by 5.9 percent and amounted to $2.2 billion.
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 annualized basis increased by 0.9 percent and remained positive, amounting to $2.8 billion.
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