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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In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
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Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
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In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
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The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
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