For the first three quarters of 2016 the foreign trade turnover of Azerbaijan amounted to $ 15 billion 781 million 300 thousand, which is less compared to the same period last year by 18.9% ($ 3,686,294,900).
With reference to the State Statistics Committee, exports amounted to $ 9 billion 579 million 800 thousand, and imports were $ 9 billion 201 million 500 thousand. During the year, exports decreased by 25% ($ 3 billion 309 million 280 thousand), while imports decreased by 5.7% ($ 377 million 12 thousand).
The positive balance of foreign trade turnover of the country amounted to $ 3 billion 378 million 300 thousand.
Azerbaijan conducted trade operations with 174 countries of the world, exported to 103 countries and imported from 168 countries.
38.3% of foreign trade turnover fell on the share of the European Union, 12.1% - on the CIS countries and 49.6% - on other countries. -----71D
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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