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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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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