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 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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