In 2016 the foreign trade turnover of Azerbaijan amounted to $ 17 billion 675.7 thousand, which is 19.4% less than in the previous year. This was stated by the State Customs Committee on customs statistics on January 17.
The volume of exports last year amounted to $ 9 billion 143.2 million. This is 28.1% less than in 2015. The entrepreneurs exported 2,921 names of goods, which is 444 more than in the previous year. The public sector accounted for 78.9% ($ 7,217.9 million) of annual exports. Exports to the European Union were 43.2% of Azerbaijan's export.
The volume of imports ($ 8,532.4 million) was $ 610.8 million less than the exports. However, the imports decreased by 7.4%. The public sector purchased goods abroad for $ 1 billion 232.2 million, 25% less than in 2015. Goods for $ 2 billion 222.2 million (-24.5%) were purchased in EU. ----08D
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review