In 2015, imports of motor vehicles in Azerbaijan amounted to 26,785 units, down 2.3 times compared to 2014. Experts regard it as one of the visual indicators of the economic crisis in the country.
According to the State Customs Committee, during the year 23,765 passenger cars, at least 700 of which were purchased by the state, were imported. In 2014, Azerbaijan imported 33 850 cars more.
In 2015, the number of trucks purchased abroad (1,961) decreased by 2.5 times, and units of special equipment (243) reduced 1.4 times. This shows a decline in economic activity in the country.
The government in early 2015 raised excise rates on imported vehicles in the hopes of increasing budget revenues.
In connection with the devaluation of the manat and the economic and financial crisis, the car market fell into a deep depression. Not only imports, but also the secondary car market decreased. -----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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