![Negative Balance of Foreign Trade Turnover Fixed](https://turan.az/resized/media/2016/main/072100162963-750-500-resize.webp)
Negative Balance of Foreign Trade Turnover Fixed
Whereas by 1 July of the previous year surplus of Azerbaijan's foreign trade turnover amounted to $ 1 billion 532 million 883.28 thousand, the balance was negative in this year's January-June (minus $ 225 million 770.33 thousand). The information was made public by the State Customs Committee.
The total foreign trade turnover by July 1 was at a level of $ 7 billion 868 million 693.64 thousand (minus 28.05% to the same period last year) with the reduction of exports ($ 3 billion 821 million 461.66 thousand) by 38.7% and imports ($ 4 billion 47 million 231.98 thousand – by 13.98%.
Still the supply of cheapened oil and gas production (oil, oil products and natural gas) accounted for 84.4% of total exports, which affects the balance of turnover. Fruits and vegetables made 4.36% of exports, while other supplies were insignificant.
Of the imported positions in the lead are cars, machinery, electrical equipment and spare parts - 23.02%, foods – 14.79%, ferrous metals and products from them – 14.27%, motor vehicles and parts - 12.54% and an incomprehensible count of Others - 24.64%.
The main official export trading partners were traditionally Italy (19.91%), France (9.02%), Germany (8.69%), Taiwan (7.88%) and Israel (6.19%). Russia and Turkey do not appear in the list, but they are in the list of priority suppliers of products to Azerbaijan. They are in the lead with 18.35 and 13.02%, respectively, China - 6.37%, the UK - 6.27%, and the US - 6.06%. --17D-
Economics
-
Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
-
Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
-
The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
-
There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
Leave a review