Rise in Net Efficiency Rate of Manat Holds Significant Impact in March

Business Materials 23 April 2007 15:46 (UTC +04:00)

Azerbaijan, Baku / corr Trend I.Khalilova / The National Bank of Azerbaijan (NBA) reiterated the rise in the net efficiency rate (RER) in respect of currencies for trade partners in March 2006 compared to December 2006.

The NBA reported that the rate rose 0.1% in the total of goods turnover. Compared to 2006, the RER rose 1.7% in the total goods turnover, 2.5% in export and 0.5% in import.

The NBA announced that in March the RER in the non-oil sector and in import remained unchanged in the total trade as compared to the end of 2005, while it fell 0.2% in import. The rate of the manat rose 0.5%, 0.2% and 1.5% respectively over the same period of 2006.

Change in net currency rate in March affected the total goods turnover by 1.3% on real efficiency rate and 98.7% on the change of prices (with the consideration of oil sector). It means that the change of the net rate and prices increased the real efficiency rate.

In March 2007 the RER of the manat in foreign trade dropped 9.9% compared to December 2000 (without consideration of the oil sector), 4% - in import and 14.1% export. In the non oil sector the RER manat rose 1.5%, 11.5% and 0.3% respectively.