In November 2016 the foreign trade turnover of Azerbaijan amounted to $ 1 billion 714.8 million, an increase compared to October by $ 314.8 million or 22.4%, the State Customs Committee reported on November 15.
In November exports of goods ($ 956.2 million) exceeded imports by 26.1%.
Total, according to the SCC, in the first 11 months of this year the foreign trade turnover of Azerbaijan exceeded $ 16 billion. This is 20.2% less than in the comparable period of 2015.
The volume of 11-month exports reached $ 8.3 billion (-30%), and imports - $ 7.7 billion (-6%).
In 2016, the entire share of oil and natural gas ($ 10 398.4 million) in the export structure amounted to 86.3%.
During the reporting period, exports of non-oil products from Azerbaijan decreased by $ 347.4 to US $ 1 billion 135.6 million. ---- 08D
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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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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