The State Statistics Committee of Azerbaijan has published the data on foreign trade turnover in January-September, with the actual figures on exports of oil by SOCAR and BP, which differ from the declared customs figures. Thus, over three quarters of the year the foreign trade turnover reached $ 32.5 billion. The figure previously reported by the SSC on foreign trade of the country was $ 24.5 billion.
When exporting $ 25.7 billion trade surplus was $ 18.9 billion
During the reported period, exports of non-oil profile made up about $ 1.1 billion, which is 6.4% more than in the comparable period of 2011. -08 -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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