Imports Gradually Equated to Exports

During the ten months of this year, goods worth a total of $ 6 billion 958 million were delivered to Azerbaijan, which is $ 237.7 million less than the volume of imports. In previous years, when the country exported crude oil in much larger quantities, this difference was measured several billion US dollars.

According to the State Customs Committee, in October, imports of goods ($ 755.6 million) exceeded the export figure by $ 111.1 million.

In just 10 months of 2016 the foreign trade turnover of Azerbaijan amounted to $ 14 billion 153.6 million, 23.2% down compared to the same period last year. At the same time, exports fell by 34.5%, and imports – by 6.5%.

Over the past period of this year, government organizations imported goods for $ 970 million and exported goods for $ 5 billion 594 million.

The worsening economic situation in the country is also associated by independent experts with the reduction in oil revenues and their inefficient usage. The country's economy is not diversified, and some of its sectors are under the control of monopolists, oligarchs. The government itself also states that it did not expect a collapse in crude oil prices in the medium term. ----08D