In January-February 2016 foreign trade turnover of Azerbaijan totaled $ 2.2 billion, which is 45.5% less than in the comparable period of 2015, reported on March 17, the State Customs Committee.
Exported were goods for $ 1 billion 223.4 million, which is 47.6% less than in the same period last year. The share of oil and natural gas in the structure of exports amounted to 85.7%.
During the mentioned period the volume of imports of goods amounted to $ 979.8 million. The positive balance of foreign trade turnover with 132 countries comprised $ 243.6 million.
In February, compared with January exports fell by $ 90.6 million, while imports increased by $ 104.7 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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