![Turnover plummeted](https://turan.az/resized/750/500/resize/media/2014/main/052100079219.jpg)
Within four months of this year, the volume of foreign trade turnover with 122 countries of the world amounted to about $ 9.9 billion, which is 14.4 % less than in the comparable period of 2013. Azerbaijan reduced hydrocarbon exports and supply of ferrous metals and vehicles, which negatively affected the dynamics of trading.
According to the State Customs Committee (SCC), the volume of exports from the country ($ 7 156.1 million) decreased 15 %. The export of crude oil ($ 6 148.5 million) decreased by 12.6%, petroleum products ($ 328.3 million) - 20.3% and natural gas ($ 175.8 million) - 51.8 %. From the beginning of the year, the share of oil and gas portfolio in the country's exports amounted to 92.97 %.
In January-April this year were imported goods at a total cost of $ 2 billion 734.7 million, which is 13 % less than in the same period last year.
Ferrous metal imports ($ 265.4 million) and vehicles ($ 252.8 million) this year decreased respectively by 36.3 % and 26 %. While food supplies from abroad ($ 339.4 million) in cash terms were increased by 6.9%.
In the portfolio of imports still dominate investment goods ( machinery, equipment, appliances , etc.) - $ 893.7 million or 32.6%.
Foreign trade surplus amounted to $ 4421 million. - 08D-
Economics
-
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
-
Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
-
Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
-
A delegation led by Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with key Italian officials during an official visit to Italy, highlighting the strong and multifaceted partnership between the two countries.
Leave a review