The volume of imports to Azerbaijan in March 2016 amounted to $ 849 million or $ 307 million more than in February, according to the State Customs Committee.
The month trade deficit amounted to $ 291.5 million. That is the highest rate for the whole period of petrodollars flow from the beginning of the 2000s. In December 2015 imports exceeded exports by $ 206.7 million.
In total in the first quarter of this year the volume of foreign trade of Azerbaijan amounted to $ 3.6 billion. That is 38% less than in the comparable period of 2015. Goods for $ 1 billion 780.6 million were exported (-47.3%). The trade deficit amounted to $ 45.3 million. --08D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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