Ecommerce, though weak, is growing in Azerbaijan.
According to the Ministry of Economic Development, this segment in January-March increased nearly 2-fold in comparison to the amount on April 1 last year, amounting to 508.2 million manat or 18.5 kopecks per capita. Almost the entire volume of trade (94.2%), as expected, was in the non-food products.
Until now profitable to trade products through POS terminals - three months sellers country counted 29.5 million manat, while also registered growth of 2.6 times).
Over the past year the volume of e-commerce has made 1 million 599.8 thousand manats. - 17D-
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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