. 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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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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