In September of this year, the deficit of foreign trade balance of Azerbaijan amounted to $ 93.3 million. This is the third, but the highest rate of negative balance in foreign trade operations of the country since the beginning of this year.
Last month, the volume of export of goods from Azerbaijan was $ 586.7 million, 124.2 million less than in August. Goods for $ 679.9 million were purchased. Imports rose by $ 85.3 million in September.
Note that in September 2014 the positive balance of foreign trade amounted to about $ 1.1 billion.
Against the background of falling world prices for crude oil, the main export product of Azerbaijan, the foreign exchange earnings on foreign trade operations are deteriorating. In January-September 2014 the foreign trade surplus of the country amounted to $ 10.8 billion. Then for the same period in 2015 this figure fell to $ 2 billion 191 million. ---- 08D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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