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The foreign trade turnover increased by 6.4 %
In January -September 2013 the foreign trade turnover reached $ 26.1 billion, up 6.4% from a year earlier. Positive turnover was achieved due to high growth of imports during the period - by 19.2 %.
According to the State Customs Committee, in the first nine months of the year, Azerbaijan exported goods worth more than $ 18 billion in the lion's share of exports (over $ 16,754 million , or 92.7 %) - energy (crude oil, petroleum products and natural gas). The share of EU exports account for 46.5 % ($ 8.4 billion). The share of public sector in the portfolio of exports is 94.2 % ($ 17 billion).
During the mentioned period, the country imported goods worth a total of $ 8,069 million is 16.4% more than in the comparable period of 2012. Imports of goods from EU countries amounted to $ 2,715 million or 33.6 % of imports. The share of the public sector accounted for 31 % ($ 2.5 billion) of imports.
The foreign trade balance amounted to $ 9,956 million
This year, Azerbaijan had trade relations with 144 countries of the world. Exported were 1,827 items of goods and imported were 5,839. Import-export business employs 5,991 business entities of which 3,460 are legal entities, including 252 companies belonging to the public sector. - 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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