Azerbaijan says imports shrink

Azerbaijan says imports shrink
# 20 May 2009 16:11 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Azerbaijan’s foreign trade totaled $3 804.4 million for the first quarter 2009, up 31.3% on a year ago, said the State Statistical Committee.

According to statistics, exports increased by 1.6 times to $2 482.3 million while exports plunged by 2.3% to $1 322.1 million. Trade surplus jumped by 6-fold to $1 160.2 million.

Oil and oil products accounted for 91.6% of the country’s exports, indicating the country’s overdependence on oil.

Imports mainly included machines and electronic devices (33.3%), foodstuffs (18.2%) and vehicles (13.4%).
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