According to the National Bank of Azerbaijan, in respect to oil sector growth, in June actual effective rate (AER) of manat rose by 1% to currencies of external trading partners in general turnover, by 1.3% in import and 0.8% in export. NBA officials told Trend the change in nominal currency rates influenced actual effective rate in trade turnover at 79 percent and prices at 21 percent (with account for oil sector).
The studies made showed that US influence on AER rise in June totaled 0.2%, Turkey 1.5%, UK 0.01%, Iran 0.04%, Georgia 0.1%, Israel 0.1%, Ukraine 0.3%, Japan 0.1% and on decline the EU with 0.2%, Russia 0.6%, Kazakhstan 0.3%.
AER rose by 6.6 percent over year in common trade, 6.2% in import and 6.9% in export.
In June AER in non-oil sector strengthened by 2.2, 2 and 1.5 percent, respectively, compared to December 2005.
AER decrease rate related to December 2000 in total trade turnover (except for oil sector) made 8.8%, in import 7.5% and in export 23.5%. Taking oil sector into consideration, AER went down by 13.3%, 14.2% and 12.6% respectively.
In this connection, taking 33.2% inflation in Azerbaijan during 2001-2006 in consideration, NBA made a conclusion that in the long run (2000-2006) ARE got cheaper, which confirms profitability of foreign trade with our countrys main trade partners.