Azerbaijani government announces forecasts for exports in 2018
Baku, Azerbaijan, Oct. 20
By Azad Hasanli – Trend:
Azerbaijani government forecasts exports worth $13.4 billion will be ensured in 2018, according to the draft state and consolidated budgets for 2018 and the next three years.
The document states that in 2018, the import of foreign products is expected to amount to $5.4 billion. As a result, a positive balance of $8 billion is forecast.
“The processes occurring in the world create a favorable environment for Azerbaijan’s economy. Despite the uncertainty of oil prices in the medium term, the growth of the global economy is recovering and trade is growing, which, on the one hand, eliminates the possibility of a sharp drop in oil prices, and on the other hand, creates conditions for the diversification of Azerbaijan's economy and increase of non-oil exports,” reads the document.
According to the State Customs Committee, Azerbaijan’s trade turnover in January-September 2017 amounted to $14.3 billion, which is 7.92 percent less than in the same period of 2016.