The share of the 15 countries accounts for about 80% ($ 11.7 billion) of foreign trade turnover for the first five months of this year. The share of the 15 most active trading partner countries in the export structure reaches 88%, the State Customs Committee told Turan.
In trade relations with five countries (Italy, Russia, Indonesia, Germany and Thailand) the turnover has topped $ 1 billion. With only Russia and France, Azerbaijan has a unique comparative balance. First, this year Russia exported goods worth $ 544 million and imported goods for $ 120 million more. Import-export operations with France were $ 334.4 million $ 394.5 million, respectively.
Based on the results of five months of this year, Russia is the second largest foreign trade turnover of Azerbaijan with $ 1,116 million, ahead of Turkey ($ 804 million) by 39%. In the structure of export of Azerbaijan, these countries share the first and second place, respectively, with 14.3% and 13.1% share. Italy, a traditional customer of Azeri oil in Europe retains primacy in the structure of trade turnover of Azerbaijan with $ 2 billion 426 million or 16.4%. - 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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