According to the statistics of the balance of payments, accounted by the Central Bank of Azerbaijan, last year predictions about its current account surplus ($ 500 million) did not come true. In contrast, to December 31, 2015 a deficit was recorded at the level of $ 222.5 million. Recall, according to the results of 2014 plus was at $ 10 billion 423.6 million.
As expected, the positive balance was in the implementation of hydrocarbons - $ 6 billion 548.9 million with a deficit in non-oil sectors of the economy in $ 6 billion 771.4 million.
The total volume of foreign trade turnover amounted to $ 25.4 billion with a surplus of $ 5.8 billion with a specific gravity of the CIS countries at 10.5%.
The export of crude oil was in the lead (90.4% of the total foreign trade turnover, or $ 12.8 billion) at a total figure of $ 15.6 billion.
The volume of imports amounted to $ 9.8 bn., including consumer goods that accounted for $ 3 billion. 850.8 million. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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