Cargo Transit through Azerbaijan Decreased by 16.8%

In 2016 International Transport Corridor Europe Caucasus Asia (TRACECA) transported 7.9 million tons transit cargo, which is 16.8% less than in the previous year, the State Statistics Committee.

From the transit the railway transport and the Shipping Company saved 189 million 177.4 thousand manat. This is 52% more than in 2015. Revenue growth is associated with the devaluation of the manat: transport companies perform transit of goods in hard currency and income is recorded in the accounting records in the local currency.

Azerbaijan is a member of the TRACECA transport corridor project, actively supported by the European Union. The corridor provides cargo owners more convenient tariffs for transportation. Reduction in the volume of traffic on this corridor is due to the weakening of trade relations of the countries located in this corridor in connection with the fall in global crude oil prices.   -----08D

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