Baku, January 11, AZERTAC
“The growth of non-oil exports by 24 per cent during the year is the result of the work done,” President of Azerbaijan Ilham Aliyev has told a meeting of the Cabinet of Ministers.
“Our export potential is growing. In 2017, exports increased by 19 per cent and non-oil exports by 24 per cent. This is the result of the work done. Our population is growing. It increases by at least 100,000 people every year. Consumption is growing and the number of tourists is increasing. Last year, the number of tourists was higher than in 2016 by almost 500,000 people. Naturally, this leads to increased consumption. Despite this, our non-oil exports, including the exports of food, are growing fast,” the head of state said.
President of Azerbaijan Ilham Aliyev hailed the fact that imports have grown by only 1 per cent, describing this as natural.
“Because, first of all, Azerbaijan meets the domestic demand with domestic production in an even greater volume. On the other hand, the purchasing power of our people has increased. Therefore, the fact that imports remain stable is a very high result, I think. The positive balance of our trade is 6.2 billion dollars. Economists are well aware that this is an excellent indicator. I am sure that this year and in subsequent years our balance will always be positive. I believe that the difference will be even greater. This is one of the most important factors for improving our macroeconomic situation and maintaining the stability of the manat,” President Ilham Aliyev added.
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