Foreign trade to rise 2.5 pct in 2011: gov’t
BAKU – Azerbaijan’s foreign trade will increase 2.5 percent in 2011, according to projections.
The figure is predicted at an average of 7.8 pct in 2012-2014. Non-oil sector exports will make up 7 pct in 2011, while over the following three years it will average 16.1 pct, Economic Development Minister Shahin Mustafayev said in a parliament address Tuesday.
The trade turnover is expected to increase 36 pct between 2011 and 2014 to reach $19 billion.
Mustafayev said the inflow of investments will be one of the main drivers of economic growth in Azerbaijan in the coming years. Investments channeled into the country’s economy are predicted to rise 17 pct to over $14.2bn and total $46.25bn over the following three years.
Foreign investments will make up $5bn next year, with the figure expected to hit a staggering $20bn until 2014.
Public and private sector investments in 2011 are estimated at $7.37bn and $6.87bn respectively. $5bn will be invested in the oil sector and around $9.2bn in the non-oil sector.
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