Trade turnover with the Netherlands hits $55.6m in 1H2020

©Azer News

By Ayya Lmahamad

Foreign trade turnover between Azerbaijan and the Netherlands amounted to $55.6 million during the period of January-July 2020, Trend reported with the reference to the State Customs Committee.

During the reporting period, export of Azerbaijani products to the Netherlands amounted to $4.2 million, versus $60.2 million during the same period of 2019.

Meanwhile, import of Dutch products to Azerbaijan decreased from $81.4 million in 2019 to $51.3 million in 2020.

Export-import ratio in foreign trade relations of the two countries, during the reporting period was 7.5 and 92.5 percent respectively. It should be noted that during the same period last year, export-import ration was 42.5 and 57.5 percent respectively.

Thus, the balance of foreign trade turnover between two countries for the reporting period remained positive and made $36.2 million.

Italy was Azerbaijan’s main trading partner in the period between January and July 2020. The trade turnover with Italy accounted for $3.7 billion out of Azerbaijan’s overall trade turnover of $15 billion in the first seven months of the year. Azerbaijan’s second largest trade partner during the reporting period was Turkey with the trade turnover of $2.5 billion. In addition, Russia was the leader among Azerbaijan’s trade partners among the CIS countries as well as the country’s third largest trade partner, amounting to $1.5 billion.

The volume of Azerbaijan’s foreign trade turnover amounted to $15 billion in the period between January and July 2020. During the reporting period, export amounted to $9.1 billion, which is 61.46 percent of the total volume of foreign trade. The volume of imports amounted to $5.9 billion.

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