In the first nine months of 2016 the volume of exports of the non-oil assortment of Azerbaijan amounted to 858.1 million US dollars, $ 337.7 million or 28.3% less than in the comparable period of 2015.
According to the State Customs Committee, in January-September this year, the foreign trade turnover of Azerbaijan amounted to $ 12 billion 742.7 million, which is 22.6% less than in the same period last year.
For three quarters of the year, exports of goods from Azerbaijan amounted to $ 8 billion 770 million, which is 49.4% less than in the comparable period of 2015. The share of oil and natural gas ($ 5,683.1 million) accounted for 86.9% of exports.
Imported goods amounted to $ 6.2 billion. The importation decreased by 5.9%.
In September, exports were $ 752 million, which is $ 517,100,000 less than in August. Last month, imports ($ 671,800,000) increased by $ 85.3 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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