In the first quarter, the volume of non-oil exports reached $ 617.7 million is up 19% over the comparable period in 2012. The growth was mainly due to the sale of floating plants ($ 48 million)
According to the State Customs Committee, the export of beverages grew by 90% to $ 10.8 million, while cotton exports increased by 2.5 times and amounted to $ 9.6 million, significantly (41.9%) re-export of sugar has increased to $ 79 , 5 million
It is noteworthy that many of the traditional export commodities exports for the period declined. For example, shipments of ferrous metals and aluminum were $ 40.6 million and $ 28.5 million, up 9.4% and 18.5% less than in the comparable period of 2012. Exports of chemical products fell by 64% to $ 21 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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