From January to April 2016 Azerbaijan exported 11,890,800 tons of oil, up 0.6% against the same period last year.
According to the Azerbaijan State Customs Committee, total cost of Azerbaijani oil exported during this period reached $2,846,497,800. The decline constituted 34.7% in money terms.
During first four months this year the declared volume of exported oil totaled 7,367,300 tons to the amount of $1,885,486,200.
One can conclude that during this period average export price of Azerbaijani oil totaled $35.94 per barrel.
During 2015 Azerbaijan exported 32,520,401 tons of oil.—0—
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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