In April, Azerbaijan imported goods worth $ 974.6 million, or $ 88 million exceeding the volume of exports ($ 886.6 million.). This is the second incident of the kind this year (February - $ 76 million) with superiority of imports over exports of goods. Experts regard this trend negatively against the background of the depletion of the foreign exchange reserves of the country.
According to the State Customs Committee, in the first four months of this year, the volume of foreign trade amounted to $ 7 billion 673,400,000, which is 22.4% less than in the comparable period in 2014.
Since the beginning of the year the imports of goods have totaled $ 3.4 billion. This is 24.4% more than in the first four months of last year. The share of the public sector accounts for 21.6% ($ 735.5 million) of the imported goods.
This year, exports have amounted to $ 4 billion 270 300 000. That is 40.3% less than in the four months in 2014. Of these, only 11.4% ($ 485.2 million) accounted for the non-state sector. 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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