The share of 10 countries accounts for 57.4% of Azerbaijan's foreign trade turnover for the 10 months of this year.
Partners of Azerbaijan in foreign trade from January to October were representatives of 147 countries, with 10 of which the turnover exceeded $ 1 billion.
According to the State Customs Committee, Italy accounts for 17.59 % of the country 's foreign trade turnover with the index in excess of $ 5 billion with 96 % of the turnover being oil exports to Italy.
Oil exports to Indonesia and Thailand amounted to $ 4.7 billion.
Russia ($ 2,176 million) is in the third place in Azerbaijan's trade turnover. The trade between Azerbaijan and Russia can be considered diversified - the import of Russian goods in January - October 2013 totaled $ 1,278.8 million and the exports to Russia were $ 897.5 million. Russia is the largest exporter of goods to Azerbaijan. It is followed by Turkey, which has exported goods worth 1,209 million to Azerbaijan since the beginning of this year. Britain exported goods totaling over $ 1 billion. It accounted for 11.5 % of the Azerbaijani imports. - 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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