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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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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