In January of this year, Azerbaijan's foreign trade amounted to $ 1 billion 852 million, which is 23% less than in the same month last year.
While in January 2014, foreign trade surplus amounted to $ 1 billion 335,600,000, last month it decreased to $ 703.6 million.
According to the State Customs Committee, last month, the export of oil, natural gas and oil derivatives decreased compared to January 2014 in terms of money by $ 597.7 million to $ 1 billion 152,100,000. The share of hydrocarbons in the structure of exports amounted to 90 1%. The volume of non-oil exports, also considering electricity, increased by $ 4.7 million and was $ 125.7 million in January. Overall, 92.6% of exports accounted for the public sector.
In January goods worth $ 574.2 million were imported. This is 7.1% more than in January 2014. The share of food ($ 72.4 million) accounted for 12.9%, machinery, tools and equipment ($ 165 million) - 28.7%, vehicles ($ 53,100,000) - 9.2%, and ferrous metals ($ 83.5 million) - 14.5% of imports. ---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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