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
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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