In August 2015 the volume of foreign trade operations of Azerbaijan totaled $ 1.3 billion. That is the lowest figure since the beginning of the year. The month's surplus was only $ 116 million in favor of exports, while in August last year the figure was $ 1 billion 373 million, according to the State Customs Committee.
According to customs statistics, exports fell in August compared with July by $ 530 million, and imports – by $ 12.2 million. The declining trend in the volume of imports has been observed since May.
In January-August 2015 the foreign trade turnover of Azerbaijan totaled $ 14 billion 82 million, which is 32.8% less than in the same period of 2014.
The volume of exports of goods amounted to $ 8 billion 183.5 million (-46.7%) and imports were $ 5 billion 898.7 million (5%).
The positive balance of foreign trade amounted to $ 2 billion 284.8 million, while for the period of 2014 export revenues exceeded the volume of purchases abroad by $ 9 billion 937.4 million. --08D-
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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