In the first eight months of this year the volume of non-oil and non-gas exports of Azerbaijan amounted to $ 1 billion 94.7 million. This was $ 35 million or 3.1% less than in the comparable period in 2014.
According to the State Customs Committee, export of fruits and vegetables ($ 141.3 million) decreased by 2.7%, tea ($ 10.9 million) – by 43.9%, sugar ($ 152.4 million) – by 2.6 %, food oil ($ 101.3 million) – by 30.1%, and alcoholic beverages and soft drinks ($ 16.4 million) – by 25.4%.
During this period, Azerbaijani producers of plastic products exported goods worth $ 73.8 million and ferrous metal products were exported for $ 19.7 million. This is respectively 21.3% and 28% less than in January-August 2014.
Since the beginning of the year the export of chemical products has amounted to $ 70.1 million, an increase of 53.7%. Aluminum exports ($58.9 million) increased 9.2%. ----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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