In the first eight months of this year the volume of foreign trade operations of Azerbaijan amounted to 11 billion 330 million US dollars, which is 25% less than in the comparable period of 2015, reported the State Customs Committee.
In January-August exports ($ 5 billion 790 million) from Azerbaijan decreased 37%. The volume of imports in terms of value got closer to the export figure ($ 5 billion 540 million (-6.2%).
Since April, the imports of goods have varied between $ 710 million and $ 780 million per month. In August, imports increased in comparison with July by $72 million, while exports – by $ 501 million.
Since the beginning of the year the share of oil sector in the export of goods amounted to 87% (in 2015 - 88%).
The volume of exports of non-oil products this year amounted to $ 755.7 million, $338.6 million less than in January-August 2015. -----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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