Azerbaijan's foreign trade turnover in the first six months of 2015 compared to the comparative period of 2014 decreased 28.94% to $ 10.930 billion.
During the reporting period, exports decreased by 44.59% to $ 6.231 billion. Imports grew by 13.64% to $ 4.698 billion.
Customs fees were $ 765,337,000. They included customs duties - $ 215,874,000, VAT - $ 498,457,000, excise taxes - $ 41,468,000, and road tax - $ 9,535,000.
During the first half of 2015 residents and non-residents of Azerbaijan conducted trade operations with 138 countries. This was 12 less than in 2014.
Foreign trade operations involved 4,823 individuals and legal entities, including 2,803 legal entities and 2,020 individuals. Among the entities the private sector significantly dominated – 2,610 persons. -0-
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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