. For the first nine months of this year the trade turnover between Azerbaijan and Georgia amounted to $ 244.6 million, which is 43.2% less than in the comparable period of 2015, according to the State Customs Committee of Azerbaijan.
It declares exports to Georgia in the amount of $ 221.8 million, 41.5% less than in January-September last year. The volume of import of Georgian goods, according to Azerbaijani sources, amounted to $ 22.7 million. This is 55.5% less than last year.
Georgian official sources provide slightly different data on trade between the two countries.
According to the National Statistical Control of Georgia, it recorded turnover between Georgia and Azerbaijan since the beginning of the year, totaling $ 415.1 million, which is 29.5% less than the indicator for 9 months of 2015. Georgia imported Azerbaijani goods worth $ 321.1 million (-17.5%) and exported goods for $ 93.9 million (2 times less).
Georgia and Azerbaijan mainly trade agricultural and food products. Azerbaijan exports natural gas and petroleum products to Georgia. ----08B
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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