Published report on the balance of payments of Azerbaijan. The current account surplus on it by October 1, was at $ 240.5 million.
According to the Central Bank of Azerbaijan, it is 37.7 times less than in January-September of last year ($ 9 billion. 65.4 million.). This is achieved due to the implementation of the hydrocarbons sector - a plus in this segment amounted to $ 5 billion. 442.3 million. Against deficiency in non-oil sector - $ 5 billion. 201.7 million.
The total volume of foreign trade turnover for the reporting period was at $ 19 billion. 344 million. With a positive result in $ 5 billion. 302 million. At the expense of oil and gas, and only a tenth part of it (9.8%) was for CIS countries.
Exports accounted for $ 12 billion. 323 million. (Minus 46.3%), of which the share of oil and gas production was 91%, or 11 billion. 206.8 million. (Minus 48.5%). Imported products worth $ 7 billion. 20.8 million. (4.4%).
Recall, the country has completed the last year with a surplus of $ 10 billion. 423.6 million. --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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