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 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.
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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.
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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.
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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.
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