For five months of this year, Azerbaijan exported non-oil goods assortment totaling $ 664 million. That is $ 101 million or 13.3% lower than a year earlier.
According to the State Customs Committee, YTD sugar exports amounted to $ 89.8 million - a $ 14.7 million less than in January-May 2013. One of the buyers of Azerbaijani sugar is Iraq, where under active combat operations, which may explain this trend.
Significantly cut deliveries abroad ferrous metals exports of goods from ferrous metals by $ 17.1 million, representing only 33% of their exports in the first five months of last year. Export from the country of aluminum ($ 32.9 million) decreased by 10.8%.
Products of the chemical industry ($ 19.4 million) exported about 30% less. Since the beginning of the year there have been also exported plastic products by $ 44.9 million, which is 26.5% less than in the same period of 2013. Cotton yarn exports declined more than twice ($ 4.7 million).
There are positive changes in the structure of exports of non-oil economy. For example, since the beginning of the year were exported fruits and vegetables totaling $ 69.7 million (28%), vegetable oils - $ 97.3 (6.6%) and alcoholic and non-alcoholic drinks - $ 14 million (11 , 8%).
Since the beginning of the year in the range of goods exports in 1438 included items of goods that is 2.5 times less than the imported goods. - 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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