Foreign trade turnover decreased by 8%
In the first ten months of this year, Azerbaijan had foreign trade ties with 150 countries for a total of $ 27.4 billion at actual prices. This is 7.9% less than in the comparable period of 2011.
According to the published data of the State Customs Committee, in January-October this year, Azerbaijan exported goods totaling $ 19.7 billion, which is 10.8% less than the same period last year. The total declared value of imported goods amounted to more than $ 7.6 billion or 0.4% more than in the same period of 2011.
Positive balance of trade of the country for the period indicated, to over $ 12 billion
The share of oil and gas in the country's export portfolio was 93.25% ($ 1.4 billion).
State share in the import-export operations considerably prevails over the share of private business. The share of public sector in exports is 94.2%, and imports - 21.8%. - 08D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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