In the first eight months of this year on the international transport corridor through the territory of Azerbaijan there was transported 4 million 855.5 thousand tons of cargo, which is 25.9% less than in the comparable period of 2015, the State Statistical Committee told Turan.
Transportation of transit cargo via the TRACECA corridor for rail and water transport is almost equally distributed - about 2 million 246 thousand tons each. At the same time the railway reduced transportation of transit goods by 4.5%, while the trade fleet – by 39.5%.
Despite the decline in freight traffic, the income of carriers on transit traffic (120.5 million AZN) increased compared with the eight months of last year by 47.2% due to the devaluation of the manat.
The gains on rail transport reached AZN 56.2 million (+ 63%), and the gains on water transport reached AZN 64.2 million (+ 35.6%). ----08B
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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