For four months of 2016 the deficit of the foreign trade turnover of Azerbaijan totaled $ 144.3 million, while in the same period in 2015 the figure was positive at $ 867.2 million, Turan was told in the State Customs Committee (SCC).
According to the May 17 report of SCC, in January-April this year the volume of export-import operations with 152 countries comprised $ 5 billion 44 million, a decline of 34.3%.
During the reporting period, imports were $ 2,594.1 million (-23.8%), and exports were $ 2,449.8 million (-42.6%).
The second consecutive month recorded a negative balance of foreign trade. In April, it made $ 99.1 million.
The share of raw hydrocarbons in the structure of exports in the four months was 86.17%, 2.29 percentage points more than in the comparable period last year.
It is noteworthy that the volume of exports of non-oil products from Azerbaijan in the four months dropped by $ 264.1 million to $ 338.7 million. ----08D
Economics
-
Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
-
The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
-
BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
-
The International Association of Drilling Contractors (IADC) opened its annual "IADC Drilling Caspian" conference in Baku on Tuesday, bringing together industry leaders to discuss advancements in oil and gas drilling, as well as the growing role of geothermal energy.
Leave a review