During 6 months, 2012 Azerbaijan exported a total of 726,408,027 tons of oil products.
According to the Azerbaijan State Customs Committee, during this period the country's incomes from oil products export totaled $604,027,260. From January to June 2012 average export price of 1 ton of oil products of Azerbaijan totaled $831.5.
Oil products export constituted 4.75% of total volume of the country's export during this period ($12 billion 711,506,660). Export of this product decreased by 19.36% (in money equivalent) against the same period last year.
* Reduction of oil products export is connected with growing consumption at the domestic market of Azerbaijan.-0-
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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