Azerbaijani manat remained one of the most stable currencies in the world in 2018, Vusal Gasimli, executive director of the Center for Analysis of Economic Reforms and Communications, said at a press conference Dec. 28, Trend reports.
He noted that in 2018, Azerbaijani manat strengthened by 29 percent in relation to the Turkish lira, by 3 percent to Iranian rial, by 2 percent to Ukrainian hryvnia, by 4 percent to Georgian lari, by 16 percent to Kazakh tenge, by 18 percent to Russian ruble, by 6 percent to Chinese yuan, by 1 percent to US dollar and by 5 percent to euro.
In addition, the volume of imports increased by 33 percent in 2018, which is related to an increase in the purchasing power of the population, he said.
Azerbaijan’s exports also increased by 30 percent, which is explained by the increase in oil prices and the growth of non-oil exports, he added.
He said that in 2018, non-oil exports are projected to grow by 10 percent or $170 million compared to last year.
Follow us on Twitter @AzerNewsAz