Azerbaijan, Baku / Trend corr I. Khalilova / The National Bank of Azerbaijan approves a drop in the nominal efficiency rate (NER) of the manat regarding currencies of Azerbaijan's trade partners in May of 2007, compared to December of 2006.
The rate rose by 1.2% in general trade turnover, by 1% in import and by 1.3% in export. Compared to the same period of 2006, the NER dropped by 0.4% in general trade turnover, by 1% in export and increased in import by 0.6%.
According to the calculations of the NBA, the NER of non-oil field decreased by 1% in general trade turnover and import in May, compared to the end of 2006, and by 1.2% in export. NER increased by 0.8%, 0.7%, and 0.5% respectively in the same period of 2006.
A change in the NER in May affected the real efficiency rate (RER) in general trade turnover by 1.3%, as well as a change in prices by 98.7% (including the oil field). That means that change in the nominal rate and the prices caused the RER to increase.
In May 2007 the NER of the manat in foreign trade (including the oil field) decreased by 11.1%, in import by 5%, in export by 15.4%, compared to December 2000. In the non-oil field the NER of the manat increased in general trade turnover by 0.5%, in export by 10.3% and decreased in import by 1.3%.