In the first 11 months of this year the trade turnover of Azerbaijan with the European Union and the United States reached $ 10 billion. That is $ 5 billion less than in the comparable period of 2014.
According to customs statistical reports, the share of EU countries and the United States in the foreign trade turnover ($ 18.8 billion) in January-November amounted to 53.1%. This is 0.9% higher than the figure for the same period last year.
The EU accounts for about 60% ($ 6,336,700,000) of Azerbaijan's export. This is mainly crude oil. From the EU countries goods were imported for $ 2 billion 555,700,000, which is equal to one third of Azerbaijan's import.
From the United States for the period goods were imported for $ 773.4 million, or by 52.8% more than in January-November 2014. 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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