During 6 months, 2015 chemical plants of Azerbaijan increased volume of production by 2.2 times against 2014, reported the Azerbaijan State Statistical Committee.
During this period the republic manufactured chemical, pharmaceutical, rubber and plastic products to a total amount of 257.3 million AZN.
According to the statistical data, during 6 months, 2016 there was a growth of production of barium sulphate by 40.3% up to 28,400 tons, propylene by 13.4% up to 27,400 tons, polyethylene by 25.6% up to 48,300 tons, ethylene – by 25.3% up to 49,700 tons and isopropyl spirit by 4.7 times up to 4,526 tons.
The production of paintwork products decreased by 28.6% to 1,340 tons, washing detergents – by 66.4% up to 56.6 tons and iodine – by 0.3% up to 117.7 tons.—0—
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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