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Economical news
Bulletine Economics 


2017 August 23 ( Wednesday )  17:37:11
Print version
Русский Azərbaycan

 

Tomatoes in First Place of Export from Azerbaijan

Baku / 23.08.17 / Turan: For the first seven months of 2017, exports in the non-oil sector amounted to 855 million dollars, the Center for Analysis and Communication of Economic Reforms said.

In the export operations, 1,333 subjects took part. The first five countries, to which products of the non-oil sector were exported, include Russia, Turkey, Georgia, Switzerland and Turkmenistan.

The analysis of the first seven months showed that tomatoes ($ 127.9 million) followed by gold ($ 60.7 million) and polyethylene of primary form ($ 54.4 million) ranked first among the export products.

In comparison with the same period of the previous year, cotton fiber exports grew 8.3 times, electricity exports grew 3.2 times, tea exports grew by 60%, fruit and vegetable exports grew by 42%, chemical product exports grew by 30%, aluminum and aluminum product exports grew by 29%, alcohol and non-alcoholic beverage exports grew by 26%, and plastics and plastic product exports grew by 12%.

Immediately in July 2017, 459 entities exported in the amount of $ 117 million.

In the first seven months of this year, through the Azexport.az portal, export orders worth $ 264.3 million were received from 53 countries. In July, the cost of export orders through the portal increased by 15% compared to June.

In the first five orders for export there are Russia (19%), Ukraine (7.8%), Turkey (7.4%), the United States (4.8%), and Saudi Arabia (4.8%).

For the first time through the portal, an export order was made from Qatar, Tanzania and Ecuador. The analysis of export orders shows that there is a great need for different types of products of the non-oil sector, in particular hazelnuts, wine, cosmetics, tobacco, mushrooms, canned beef, milk powder, furniture, eggs, frozen chicken, cherry juice, silk carpets, cotton fiber, apples and butter. ------71D

Share of Local Cement in Market Reaches 99%

Baku / 23.08.17 / Turan: For seven months of this year, Azerbaijan produced 1 million 577.6 thousand tons of cement, which is 24.1% more than for the comparable period of 2016, the State Statistics Committee reports. The analysis of cement imports reports shows that local producers control 99% of the market.

In the first half of this year, the volume of cement production amounted to 1 million 289.6 thousand tons. During this period, 14 thousand tons of cement was imported for a total of over $ 2.9 million. In the first six months of 2016, cement imports amounted to 38.7 thousand tons ($ 4 million 141 thousand). In addition, small cement plants supplied 181,000 tons of cement clinker totaling $ 6.2 million to Azerbaijan in 2016. This year, the import of clinker completely stopped.

According to the State Customs Committee, cement producers exported 71.2 thousand tons of cement clinker and over 29 thousand cement abroad. In total, over $ 4 million was raised.

It is noteworthy that the import of Portland cement to Azerbaijan was registered at customs at $ 100.6 / ton (last year - $ 168). Azerbaijan cement was exported this year on average at a price of $ 43.8 per ton (in 2016 - $ 41.2). During this period, the cost of the Azerbaijani clinker dropped from $ 45.3 to $ 37.6 per ton. ----08D

Investors Receive Benefits for $ 30.5 Million

Baku / 23.08.17 / Turan: Within the framework of the investment promotion mechanism, entrepreneurs have received benefits totaling $ 30.5 million on release from tax on the import of equipment, devices and investment-aimed facilities. This was reported by the press service of the Ministry of Economy.

To date, the Ministry of Economics has provided 169 business entities with 182 investment promotion documents. In accordance with these documents, investors committed to invest 1.6 billion manats in various projects.

It is noteworthy that only one of 182 projects is implemented in the city of Baku. 66 projects are implemented in the suburbs of Baku and the Absheron district. The bulk of the investment is aimed at the creation of industrial capacities (112 projects), and the remaining (70) is aimed at the implementation of agricultural projects.

In accordance with the Tax Code and the Law on Customs Tariff, business entities that received an investment promotion document are exempt from payment of 50% of the profit tax, totally from the property and land tax, as well as import taxes and VAT on imported equipment, devices and investment-aimed facilities. -----08D

The dollar does not change, the euro fell slightly

Baku / 23.08.17 / Turan: The Central Bank of Azerbaijan did not change the dollar rate on August 24, leaving it at 1,7009 manats. Commercial banks buy dollars for 1.66-1.6960 manat, and sell in the interval 1.6980-1.71 manats.

The euro exchange rate slightly decreased from 2.0081 manats to 2.0003 manats. In commercial banks you can buy the European currency in the range 2.0070-2.02 manat, and sell for 1.9503-2.00 manat. -71D-

Bank Ombudsman to Start Work in September

Baku / 23.08.17 / Turan: The Bank Ombudsman will start working in September, the Vergiler newspaper of the Ministry of Taxes informs.

Referring to the Association of Banks of Azerbaijan (ABA), the newspaper writes that the main task of the Ombudsman is to help resolve disputes between banks and clients without involving the court.

In particular, the Ombudsman will become an intermediary in repayment of loans and return of deposits.

Primarily, the Bank Ombudsman will consider financial issues for up to 2 thousand dollars or 3 thousand manats.

The Bank Ombudsman will work under the ABA. ------71D

Khalg Bank Completed H1 of 2017 with Profit

Baku / 23.08.17 / Turan: In the first half of 2017, Khalg Bank"s assets increased by 121.032 million manats or 7% compared to the same period of the previous year, amounting to 1 billion 845.887 million manats.

Over the reporting period, the Bank"s liabilities increased by 166.272 million manats or 7.1% to 1 billion 600.533 million manats.

The volume of deposits in the Bank decreased to 1 billion 230.598 million manats (a decrease of 94.987 million manats or 8.3%).

In particular, the call deposits of individuals decreased from 116.724 million manats to 88.019 million manats, while those of legal entities increased from 63.809 million manats to 171.038 million manats.

Timed deposits of individuals decreased from 739.963 million manats to 666.909 million manats, while those of legal entities grew from 216.013 million manats to 304.631 million manats.

The debt of Khalg Bank to the Central Bank of Azerbaijan is 31.491 million manats.

The Bank"s capital for the mentioned period increased by 14.353 million manats or 6.4% and is 245.353 million manats.

In the first half of the year, Khalg Bank showed a profit of 5.171 million manats. ----71D

Ministry of Finance Attracts about 41 Million Manats to Budget

Baku / 23.08.17 / Turan: At the auctions held on August 22, the Ministry of Finance fully placed government bonds for a total of 45 million manats with a circulation period of 364 and 182 days.

According to the Baku Stock Exchange, demand for the bonds was high: 33 bids were submitted in auctions for a total of 123 million manats. Based on the results of the auctions, 364-day bonds were placed at the weighted average price of 90.32 manats per bond or 10.77% per annum, and those with a maturity of 182 days were placed at 95.78 manats or 8.87% per annum. The nominal value of the bonds is 100 manats.

Over the seven months of this year, the Ministry of Finance attracted 353.5 million manats in sales to short and medium-term government bonds. These funds are used to cover the deficit of the state budget. Buyers of state bonds are commercial banks and insurance companies.----08D

Foreign currencies rates fixed by Central Bank

1 ABŞ dollarıUSD1.7009
1 AvroEUR2.0003
1 Avstraliya dollarıAUD1.3421
1 Argentina pesosuARS0.0988
1 Belarus rubluBYN0.8813
1 Braziliya rialıBRL0.5379
1 BƏƏ dirhəmiAED0.4631
1 Cənubi Afrika randıZAR0.1285
100 Cənubi Korea vonuKRW0.1505
1 Çexiya kronuCZK0.0767
100 Çili pesosuCLP0.2655
1 Çin yuanıCNY0.2554
1 Danimarka kronuDKK0.2689
1 Gürcü larisiGEL0.7069
1 Honq Konq dollarıHKD0.2173
1 Hindistan rupisiINR0.0265
1 İngilis funt sterlinqiGBP2.181
100 İndoneziya rupiasıIDR0.0127
100 İran rialıIRR0.0045
1 İsveç kronuSEK0.2099
1 İsveçrə frankıCHF1.7563
1 İsrail şekeliILS0.47
1 Kanada dollarıCAD1.351
1 Küveyt dinarıKWD5.634
1 Qazaxıstan tengəsiKZT0.0051
1 Qırğız somuKGS0.0246
100 Livan funtuLBP0.1128
1 Malayziya rinqqitiMYR0.3972
1 Meksika pesosuMXN0.096
1 Moldova leyiMDL0.0951
1 Misir funtuEGP0.0958
1 Norveç kronuNOK0.215
100 Özbək somuUZS0.0407
1 Polşa zlotasıPLN0.4678
1 Rusiya rubluRUB0.0288
1 Sinqapur dollarıSGD1.2485
1 Səudiyyə Ərəbistanı rialıSAR0.4536
1 SDR (BVF-nun xüsusi borcalma hüquqları)SDR2.3961
1 Türk lirəsiTRY0.4864
1 Tayvan dollarıTWD0.0562
1 Tacik somonisiTJS0.193
1 Yeni türkmən manatıTMT0.4867
1 Ukrayna qrivnasıUAH0.0668
100 Yapon yeniJPY1.5537
1 Yeni Zelandiya dollarıNZD1.2303
QızılXAU2184.2958
GümüşXAG28.8473
PlatinXPT1656.6766
PalladiumXPD1588.6406