In the first quarter of this year, the volume of foreign trade turnover amounted to $ 5.8 billion, which is 18.6% less than in the same period of 2014, according to the State Customs Committee of Azerbaijan.
Exports of goods, in the structure of which the share of oil and gas dropped to 85.86%, amounted to $ 3 billion 383.7 million. This is 37% less than in the first quarter of last year. The downward trend in exports originates from 2014: in January-March last year, exports fell by 16.5%.
According to the SCC, in the first quarter of 2015 imports of goods in Azerbaijan increased 37.6% to $ 2 billion 428,400,000. The positive balance of foreign trade activity in the country amounted to $ 955.2 million.
The share of the public sector in the structure of imports was 22.1%, and in exports - 88%.
In March this year exported goods were worth $ 1 billion 49 million, and imported goods were worth $ 721.4 million.
Experts warn that if the devaluation of the national currency, which was also intended to increase export activity, does not affect foreign trade in a positive way, the trade balance may soon become negative. This in turn will lead to an outflow of foreign exchange reserves. ----08D
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review