The National Bank of Azerbaijan announced that nominal efficient rates of manat (NERM) in regard to currency basket of major trade partners of Azerbaijan (Iran, Turkey, Russia) over the past 5 years fell вЂ" 4.8% (in the non-oil sector it grew 12.5%), real efficiency rate of manat (RERM) fell 12% (-6.2% in the non-oil sector).
The NBA noted in November 2005 inflation in the country as compared of December 2000 made up 23.5% (including 23.5% in the non-oil sector) against 33.6% in the group of trade partners of the country (Iran, Turkey, Russia), where inflation in the non-oil sector made up 48.1%. In this case NERM in respect to the currency basket of major trade partners dropped 4.8% (in the non-oil sector it rose 12.5%), while RERM rates fell 12% (-6.2% in the non-oil sector).
As of December 2004 the NERM on all goods turnover grew by 14.6% (in the non-oil sector rose 12.3%), as of December 2000 dropped 4.8% (+12.5% in the non-oil sector), while RERM rose 13.2% (10% in the non-oil sector) and fell 12% (-6.2%) respectively. In the import section rise of NERM was 12% in the non oil sector 13.3%) and 2.4% (6.2%) respectively, RERM вЂ" 9.4% (11.4% in the non-oil sector) and fell 13.2% (-7.1%) respectively.
In the export section growth of NERM was 16.9% (in the non-oil sector 9.1%) and fell 10.3% (+26.5%), the RERM was 16.5% (4% in the non-oil sector) and went down 11% (15%) respectively.