The world markets have a positive impact on the Azerbaijani economy, Vusal Gasimli, head of the Azerbaijani Center for Analysis of Economic Reforms and Communication, said in an interview, Trend reports.
“Despite the recovery in the global economy, there are concerns about volatility in financial markets and inflation,” the head of the center added.
"The FAO food price index in May 2021 exceeded the index of the same month of 2020 by 39.7 percent,” Gasimli added. “Vegetable oil, grain, sugar, meat and dairy products are becoming more expensive on the world markets because energy carriers and food dominate in the export basket of Azerbaijan, the rise in prices for them increases export revenues.”
“Azerbaijani export volume in comparable prices decreased by 8.3 percent while in actual prices increased by 25.1 percent from January through April 2021,” the head of the center said.
“Thus, despite the decline in export in physical terms, it increased in value terms due to the rise in prices for export products,” Gasimli added. “The export of non-oil products increased by 10.7 percent in comparable prices while in actual prices by 27 percent. The products imported by Azerbaijan also rose in price."