In January of this year the volume of foreign trade turnover of Azerbaijan amounted to $ 1 billion 99.8 million, the lowest figure for the whole period of "big oil" in the country...
According to the State Customs Committee, the trade turnover of the country decreased compared to the same period of 2015 by 40.6% in January.
In January, exports of goods amounted to $ 657 million, which is 48.5% less than in January last year. According to specialists, non-oil exports amounted to $ 61.4 million, 2 times less than in the same period of 2015.
During this period, Azerbaijan imported goods for $ 442.8 million. Imports of goods decreased 22.9%.
In January, the surplus of foreign trade amounted to $ 214.2 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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