Foreign Trade Deficit Amounted to $ 281.4 Million

In the five months of 2016 the volume of foreign trade operations of business entities in Azerbaijan amounted to $ 6 billion 381.4 million, that 31.7% less than in the comparable period of 2015, the State Customs Committee told Turan.

This year, due to lower export operations, a negative balance has formed in the amount of $ 281.4 million. In May alone the volume of imports in foreign trade balance ($ 737,300,000) exceeded exports by $ 137.2 million.

In just five months, goods worth $ 3 billion 50 million were exported, which is 42.2% less than in the same period of 2015. Goods worth $ 3 billion 331.4 million were imported, which was 18.2% less than in January-May last year.

The share of oil and gas sector in the structure of exports was 84.7%. At the same time, according to Turan estimates, exports of non-oil and non-gas production ($ 464,400,000) decreased by $ 276.8 million over five months.

Recall that the decrease in the volume of foreign trade operations of Azerbaijan by 28% was recorded in January-May 2015. -------08D