The private sector share in export of goods from Azerbaijan in 2014 amounted to only 6% ($ 1 billion 121 million). According to the State Customs Committee, the volume of exports of goods by the private sector decreased by $ 260.1 million or 19%.
"Given the fact that virtually all exports of the private sector accounted for the non-oil sector, we can say that 2014 was a bad one for entrepreneurs in terms of access to foreign markets, says the economist Rovshan Agayev. According to his calculations, the last 4 years the volume of exports of goods produced by the private sector in Azerbaijan increased by only $ 58.5 million.
The expert also stressed other negative trends in the economy: in 2011 the share of non-oil exports to non-oil GDP was 5.2% and in the past year this figure dropped to 4%. In other words, in each 100 manat formed in the non-oil GDP the added value of AZN 4 “returns” to the country by exporting goods. In Georgia, where in 2014 the volume of exports of goods amounted to $ 2.8 billion, this figure rises to 25%, and in Estonia - 40%. ---08D
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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