Nominal Efficiency Rate in Non-Oil Field of Azerbaijan Drops in September

Business Materials 25 October 2007 18:37

Azerbaijan, Baku / Trend corr I. Khalilova / The National Bank of Azerbaijan approves a drop in the nominal efficiency rate (NER) of the manat regarding currencies of Azerbaijan's trade partners in September of 2007, compared to December of 2006.

The rate fell by 2.2% in general goods turnover, 1.9% in import and 2.3% in export. Compared to the same period of 2006, the NER dropped by 4% in general goods turnover, by 4.4% in export and by 3.2% in import.

According to the calculations of the NBA, the NER of non-oil field decreased by 2% in general goods turnover and import in May, compared to the end of 2006, and by 2.1% in export. NER decreased by 3.2%, 3.3%, and 3% respectively in the same period of 2006.

A change in the NER in May affected the real efficiency rate (RER) in general goods turnover by 46%, as well as a change in prices by 54% (including the oil field). That means that change in the nominal rate decreased the RER and the prices caused its increase

In September 2007 the NER of the manat in foreign trade (including the oil field) decreased by 11.9%, in import by 5.9%, in export by 16.2%, compared to December 2000. In the non-oil field the NER of the manat decreased in general trade turnover by 0.5%, in import by 2.3% and decreased in export by 9.3%.