In 2015, exports of non-oil products from Azerbaijan amounted to $ 1,606.7 million, which is 8.4% less than in the previous year. This reduces not only the export of oil, gas and oil derivatives, but also goods of non-oil industries, etc.
According to the State Customs Committee, due to the reduction of oil exports, the share of non-oil sector in the structure of exports reached 14%.
In 2015, Azerbaijan exported goods worth $ 11 billion 424.4 million. This is 47.6% less than in 2014. In December alone, exports were $ 805,300,000, which is $ 48.8 million less than in November.
As for imports, last year $ 9,221,400,000 was spent on the purchase of goods abroad, 0.36% more than in 2014, according to the State Customs Committee.
The foreign trade turnover of Azerbaijan is positive - $ 2.2 billion. However, many independent experts agree that the import of goods consumed far more currency than is reflected in the customs declaration, as part of the imported goods is not reflected in the official customs records. -----08D
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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