Azerbaijan, Baku / Trend . Corr. I. Khalilova / With consideration to the oil sector in October the real effective rate (RER) of AZN went up 3.8% in common trade turnover with respect to the exchange of the foreign trade partners of the country, 3.5% in import and 4.1% in export, according to the National Bank of Azerbaijan (NBA). During the same period of last year the RER strengthened by 3.3% in trade turnover, while it was up 3.2% in import and 3.5% in export.
From January to October 2007 the analysis also shows that the US influenced the increase of the RER in foreign trade (with consideration to the oil sector) comprised 0.4%, while the influence of Europe was 2.6%, England 0.7%, Russia 0.1%, Israel 0.3%, Ukraine 0.1%, Japan 0.3%. Turkey's share dropped 0.7%, Kazakhstan 0.1%, while Georgian and Iranian shares remained neutral.
In October RER in the oil sector strengthened by 2.5% in trade turnover, 2.9% in import and 0.1% in export compared to December 2006. However, it rose 2.3%, 2.7% and 0.1% respectively compared to the same period of last year
In October the RER reduction tempo in the oil sector was 13.4% in general trade turnover (except for the oil sector), 11.2% in import and 24.2% in export in comparison to December 2006. Including the oil sector ERE has also dropped 7.6%, 9.6% and 5.9 % respectively.
In January to October 2007 the growth rate of the exchange rate of AZN in regard to the currency of the US, EU, UK, Russia, Georgia, Japan and Israel exceeded the growth rate of the net rate of AZN. The net price of the AZN reduced in regard to the currency of Turkey, Georgia, UK, EU, Kazakhstan, Israel and Russia, while it actually strengthened with respect to all currencies, except the Turkish lira and Kazakh tenge.
The NBA made the conclusion that the long-term decrease period of RER of the manat is related to the increase of inflation the trade partner countries over the increase of consumer prices in Azerbaijan.
In 2001-2007 the inflation ratio in Azerbaijan comprised 59%, while prices in trade partner countries increased by 79.7% on average.