According to analysts of the Institute of International Finance (IIF), Azerbaijan will continue economic growth, despite lower prices for raw materials and low growth rates in Russia and China, which significantly affects the regional economy, the IIF report on Caucasus and Central Asia says. According to the report, Azerbaijan is on course to expand its…
The value of goods and services produced in Baku reached 19.9 billion manats in January-June, up by 0.7% YoY, the Statistics Office reported. “Some 81.3% of industrial production accounted for the mining industry, 16.7% – the processing industry, 1.5% – electricity generation, and 0.5% – waste cleaning and recycling sector,” the report says. The share…
Prices for consumer goods and services in Azerbaijan increased by 2.7% YoY in January-July, the State Statistical Committee reported. According to the report, prices grew by 3.1% for food, drinks and tobacco products, by 1.3% for non-food products, and by 3% for paid services to the population. Prices for consumer goods and services increased by…
As of July 1 the number of hired employees in the Azerbaijani economy increased by 4.4% and exceeded 1.6 million people compared to the same period of 2018, the State Statistics Committee reported. Some 903,400 of people were employed in the public sector, while 710,300 people – in the private sector. Of the total number…
Local and Russian enterprises and businessmen demonstrate continuous interest in cooperation due to similar business structures, preferential tax and customs regimes and availability of different transport routes which ease logistics issues. Business people from Tyumen, Russia, who will be in Baku on August 11-16, plan to establish ties with potential partners from Azerbaijan. The visit,…
Azerenergy, the largest electrical power producer of the country, plans to complete the reconstruction of the Azerbaijan thermal power plant in Mingachevir in the first half of 2020, the company said in a message. “Work on the reconstruction of the power plant is being carried out at a fast pace. To date, repair work at…
In recent years Azerbaijan has turned from an electricity importing country into a country exporting electricity. Azerbaijan, which has been exporting electricity to neighboring countries for a long time, has already begun exporting energy to European countries. In early May Azerenergy started supplying electricity to Greece, Romania, Bulgaria and Hungary through Georgia and Turkey. In…