Fall of Official Trade Turnover Accelerated

During the first 11 months of this year the volume of foreign trade turnover amounted to $ 28.8 billion, which is 9.1% less than in the same period of 2013. Foreign trade surplus was $ 12.6 billion. In November, the volume of foreign trade turnover ($ 2 270 million) decreased compared with October at $ 408 million. That was the result of falling world prices for crude oil.

The share of crude oil was 84.7% of Azerbaijan's export. Exports fell at an annual rate of $ 1 billion 9 million, according to the report of the State Customs Committee (SCC).

From the beginning of 2014, Azerbaijan had trade relations with 147 countries of the world. According to statistics made public, the export of goods from Azerbaijan ($ 20 billion 713 million) decreased 5.8%.

The volume of imports of goods amounted to $ 8 billion 112 million, a decline of 16.6%. The share of the public sector accounts for 26.2% of the imported goods.

Independent experts, referring to the statistics only for import of goods with 15 leading trade partners of Azerbaijan, argue that the real volume of foreign trade turnover is much higher. The economist Gubad Ibadoglu said that only in 2013, imports from 15 countries totaled $ 12 billion 393 million, while the SCC of Azerbaijan fixed goods for $ 7 billion 431 million.

Note that, despite the negative trend of import operations, the SCC will cope with the implementation of the annual plan for the collection of customs duties and taxes. In the beginning of the year through the SCC there was transferred to the state budget 1 billion 378 million manat. Gathering from entrepreneurs 132 million AZN in December, they report about the successful completion of the year. --08D-