In January, Azerbaijan produced about 140 thousand tons of cement, 40% more than in the same period last year.
Cement production in the past year decreased due to the fall in business activity as a result of the devaluation of the manat. 2.3 million tons of local cement was sold in 2016, 15% less than in 2015. It also had a negative impact on the construction sector.
Local manufacturers gradually strengthen the position in the cement market. Import of cement and cement clinker decreased by 100 thousand tons to 376 thousand tons ($ 17.9 million) in 2016. The export of cement raw materials in 2016 doubled and amounted to 184.4 thousand tons. Savings of foreign currency to import cement amounted to more than $ 9 million.
This trend continued into this year. In January, Azerbaijan imported only 1,000 tons of cement, 9 times less than in the previous year.
The combined capacity of the cement industry in Azerbaijan is 5-5.5 million tons per year. Of these, 85% account for three companies: JSC Holcim (Azerbaijan), LLC Norm and LLC HGC Group (former Gazakh cement plant). ----08D
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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