For the nine months of this year, Azerbaijan had foreign trade relations with 149 countries of the world for a total of $ 24.5 billion, which is at 7.67% less than in the comparable period of 2011.
According to the published data of the State Customs Committee, in January-September this year, Azerbaijan exported goods amounting to $ 17,791 million, which is 9.9% less than the same period last year. The total declared value of imported goods amounted to over U.S. $ 6,674 million, or 1.2% less than in the same period of 2011.
The positive balance of trade of the country for the period indicated to over $ 11 billion.
The share of oil and gas in the country's export portfolio was 93.5% ($ 16.6 billion).
State share in the import-export transactions prevails over the share of private business. The share of public sector in exports is 94.6%, while imports - 20.4%. - 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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