For two months of 2017, Azerbaijan's foreign trade turnover with 137 countries of the world amounted to 2 billion 625.9 million US dollars, which exceeded the indicator for the same period last year by 20%, the State Customs Committee said.
Exports accounted for 63% ($ 1 billion 653.9 million) of the foreign trade operations. They increased by 36.6%. At the same time, the share of the oil and gas sector in exports was 89%.
Since the beginning of the year, goods worth $ 971.9 million were imported, 0.4% less than in January-February 2016.
It is noteworthy that this year the range of exported goods increased from 968 (January-February 2016) to 1,305. The list of imported goods also increased from 4,648 to 5,402. ----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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