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
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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