In 2013, the volume of foreign trade turnover amounted to $ 34.6 billion, which is 3.3 % more than in the previous year. However, the data of the State Customs Committee (SCC ) indicate that the volume of foreign trade of the country in recent years has been growing mainly due to imports and is directed down due to declining oil exports .
Last year, exports of goods from the country ($ 23.9 billion ) grew by only 0.28%. The public sector including oil and gas exports by the consortia accounted for 93.2% of the exports. Imports of goods in value terms reached a historic high - $ 10.7 billion, an increase of 10.9%.
In 2011 the volume of foreign trade turnover amounted to $ 36.3 billion , an increase of 29.9% . For comparison , we note that in the recent past ( 2008 ) the volume of import-export operations reached $ 55 billion at a positive balance at $ 40.6 billion. 08D
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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