![Foreign Trade Deficit Amounted to $ 281.4 Million](https://turan.az/resized/750/500/resize/media/2016/main/061800159503.jpg)
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
-
- Social
- 18 June 2016 12:18
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review