Foreign trade surging
Azerbaijan`s foreign trade increased 13.4% during
the January-February 2009 period, compared to the same period in
2008, to hit $2.4 billion.
According to the State Statistics Committee, exports grew 24.5% in this period to reach $1.5bn, while imports decreased 1% to $926 million. Thus, the positive balance in the fast-growing South Caucasus republic`s foreign trade turnover doubled to reach $565m.
Deliveries of machines, equipment and vehicles accounted for a large share of the country`s imports, while 90% of exports were made up by crude and oil products. The State Customs Committee estimates that Azerbaijan`s oil exports surged 3.5 times in the first two months of 2009 to hit 4 million tons. Nonetheless, the price per ton of Azerbaijani oil in world markets has fallen 2.3 times in the past year to $298. As a result, Azerbaijan`s revenues from the exports of crude have exceeded $1.1bn so far this year. One ton of Azerbaijani oil was selling for an average of $693 in January-February 2008.
According to the State Statistics Committee, exports grew 24.5% in this period to reach $1.5bn, while imports decreased 1% to $926 million. Thus, the positive balance in the fast-growing South Caucasus republic`s foreign trade turnover doubled to reach $565m.
Deliveries of machines, equipment and vehicles accounted for a large share of the country`s imports, while 90% of exports were made up by crude and oil products. The State Customs Committee estimates that Azerbaijan`s oil exports surged 3.5 times in the first two months of 2009 to hit 4 million tons. Nonetheless, the price per ton of Azerbaijani oil in world markets has fallen 2.3 times in the past year to $298. As a result, Azerbaijan`s revenues from the exports of crude have exceeded $1.1bn so far this year. One ton of Azerbaijani oil was selling for an average of $693 in January-February 2008.
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