For seven months this year, the foreign trade turnover amounted to $ 19,381 million, which is 5.9% less than in the comparable period of 2011. Reduction in the volume of foreign trade is associated with a decline in crude oil exports.
According to the State Customs Committee of Azerbaijan, with the beginning of the year exports amounted to just over $ 14 billion, which is 9% less than in January-July 2011. This included crude oil - $ 12.1 billion, petroleum products - $ 697.4 million and natural gas - $ 340 million, thus the share of oil and gas sector ($ 13.1 billion) in export for the first seven months was 93.3%.
The volume of imports of goods in Azerbaijan over the seven months of this year totaled $ 5.3 billion, an increase compared to the same period in 2011 by 3.47%. The public sector accounts for 20.6% of the imported goods.
Positive balance of foreign trade turnover with the beginning of the year amounted to $ 8,783 million. - 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