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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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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