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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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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