In 2016 Azerbaijan’s exports will decline by 18% YoY, or by $2.8 billion, the CBA Chairman Elman Rustamov said.
Earlier Rustamov noted that Azerbaijan’s exports would be about $12.8 billion by late 2016.
“The export of non-oil products and services has declined by 20% since early 2016”, he said, adding that non-oil imports were currently much higher than the exports.
In January-October Azerbaijan’s trade turnover with 174 foreign economic partner countries amounted to $14.15 billion, down by 23.22% YoY, according to the State Customs Committee of Azerbaijan.
Azerbaijan’s exports reached almost $7.2 billion (down by 34.48% YoY), while imports stood at $6.96 billion (down by 6.64%). (Trend/Business World Magazine)