According to the State Customs Committee of Azerbaijan (http://customs.gov.az/files/arayish201603.pdf), by April 1, Azerbaijan's foreign trade turnover amounted to $ 3 billion 606 million, slightly less than half of which (42.4%, or $ 1 billion 531 million) came from the EU, and just over a tenth (11.8% or $ 422 million) – from the CIS countries. Other countries, with 140 participants in the turnover, had a trade of $ 1 billion 653 million, or 45.8% of total volume, with Azerbaijan.
The usual leader is Italy with a total turnover of $ 462 million for export, mainly hydrocarbons at $ 368 million and imports of $ 94 million, followed by Turkey - $ 257 million ($ 59 million and $ 197 million). The third is Russia with overall performance in the $ 252 million ($ 46 million and $ 206 million), followed by Germany - $ 248 million ($ 172 million and $ 76 million) and France - $ 233 million ($ 201 million and $ 32 million).
By April 1, the total exports amounted to $ 1 billion 780.62 million, and the imports were $ 1 billion 825.9 million with a deficit of approximately $ 45 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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