Azerbaijan’s trade sharply down over global crunch
The global economic crisis and halving of the crude prices in
comparison with 2008 have caused a singificant reduction in
Azerbaijan’s trade turnover in 2009.
According to the State Customs Committee, the country’s trade transactions with 138 countries amounted to $20.8 billion last year. The bulk of imported goods decreased 15% to $6.1bn.
Azerbaijan’s exports dwindled three-fold. The South Caucasus republic exported goods worth $14.7bn last year.
A positive foreign trade balance of $8.6bn has been reported over the past year, but the figure dwindled five-fold compared to 2008.
The sharp fall in 2009 exports was largely prompted by dwindling oil exports, while the reduction in imports was caused by the decreasing volume of food and vehicles delivered to the country.
Crude and oil products accounted for 92% of Azerbaijan’s exports last year, which led to the public sector’s share in exports exceeding 93%.*
According to the State Customs Committee, the country’s trade transactions with 138 countries amounted to $20.8 billion last year. The bulk of imported goods decreased 15% to $6.1bn.
Azerbaijan’s exports dwindled three-fold. The South Caucasus republic exported goods worth $14.7bn last year.
A positive foreign trade balance of $8.6bn has been reported over the past year, but the figure dwindled five-fold compared to 2008.
The sharp fall in 2009 exports was largely prompted by dwindling oil exports, while the reduction in imports was caused by the decreasing volume of food and vehicles delivered to the country.
Crude and oil products accounted for 92% of Azerbaijan’s exports last year, which led to the public sector’s share in exports exceeding 93%.*
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