Foreign trade operations between Azerbaijan, Malaysia almost double

2020-07-11 02:23:27

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 11

By Fidan Babayeva – Trend:

The volume of foreign trade operations between Azerbaijan and Malaysia amounted to $61.3 million from January through May 2020, which is almost 2 times more compared to the same period of 2019, Trend reports citing the State customs Committee (SCC) of Azerbaijan.

Over the mentioned period, value of export of Azerbaijani products to Malaysia exceeded $38.9 million, while a year earlier it was $172,000. Malaysia's share in Azerbaijan's total exports increased from 0.47 to 0.54 percent

Import from Malaysia to Azerbaijan decreased by 22.1 percent over the year, from $27.3 million to $22.3 million. The share of Malaysia in Azerbaijan's total imports increased from 0.47 to 0.54 percent of the total volume.

Thus, the balance of foreign trade between the two countries for the reporting period was positive and totaled over $16.6 million.

The overall foreign trade turnover of Azerbaijan amounted to $11.1 billion in the reporting period, showing a 22.9 percent growth year-on-year. At the same time, the balance of foreign trade turnover increased by 0.9 percent over the year and remained positive, amounting to $2.8 billion.

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