The volume of exports of Azerbaijani producers in the nine months of this year decreased by half. Important role in this was played by lower prices for consumers' goods and raw materials.
Since the beginning of the year export of tea has decreased (-44.3%), as well as sugar (-2.2%) and vegetable oil (-22.4%), which is mainly produced by Ltd. Azersun Holding. The share of these products in the first nine months of this year was 3.37% of exports. It is accordingly a negative impact in terms of financial holding companies.
By 22% decreased exports of alcoholic and soft drinks ($ 19.1 million). Since the beginning of the year there were exported vegetables and fruits for $ 162.4 million, which is 3.5% less than in the comparable period in 2014.
Markedly increased export of chemical products (+ 37.8%). Since the beginning of the year the chemical industry exported goods worth a total of $ 72.2 million. --08B
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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