For eight months of this year, Azerbaijan had foreign trade relations with 146 countries of the world for a total of $ 21.8 billion, which is 7.6% less than in the comparable period of 2011.
According to the published data of the State Customs Committee, in January-August this year, Azerbaijan exported goods totaling $ 15.8 billion, which is 11% less than in the same period last year. The total declared value of imported goods amounted to more than $ 6 billion, or 3% more than in the same period of 2011. Thus, the positive trade balance of the country for the mentioned period was $ 9.8 billion.
The share of oil and gas in the country's export portfolio was 93.4% ($ 14,782 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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