Since the beginning of 2018, 45,000 passengers have been transported through the Baku International Sea Trade Port, up by 50% YoY. According to the port, this is a record figure for Azerbaijan in terms of passenger transportation by sea over the past 20 years. It is expected that 47,000 passengers will have used the services…
Azerbaijan’s GDP volume reached almost 72.4 billion manats in January-November, up by 1% YoY, the State Statistics Committee reported. The volume of GDP per capita stood at 7,378.5 manats. In January-November, the volume of GDP produced in the Azerbaijani non-oil sector increased by 1.3%, while in the oil and gas sector there was an increase…
In connection with the accident on December 12 on the Artem-Makhachkala power line of the Russian energy system, Azerbaijan’s energy system provided the Dagestan power grid (Derbent substation) with electricity of 140-160 MW from 08:52 to 20:51 (GMT +3), Azerenergy OJSC reported. Energy was exported on the basis of an agreement on mutual assistance in…
The trade turnover between Azerbaijan and Serbia has grown by 33% this year, Economy Ministry reported. The ministry was commenting on the fifth meeting of the Azerbaijan-Serbia intergovernmental commission on trade and economic cooperation. Prior to the meeting of the intergovernmental commission with the participation of delegations led by co-chairs of the commission – Azerbaijani…
The Baku-Tbilisi-Kars (BTK) railway not only strengthens economies of the countries in the region by boosting their transit potential, but also plays a role of a guarantor of stability and security in the region. The time launch of Baku-Tbilisi-Kars railway passenger trains has become known. Azerbaijan Railways Closed Joint Stock Company reported that the organization…
The World Bank (WB) is working with Azerbaijan’s Ministry of Ecology and Natural Resources to examine different options of the “green economy” development, Head of the WB Baku Office Naveed Naqvi reported. The bank has also been able to mobilize funds from the Korean Green Growth Trust Fund, to support green economy in Azerbaijan. Naqvi…
The Central Bank of Azerbaijan (CBA) received 350 million manats from banks at a deposit auction on December 3, CBA said in a message. According to the message, the demand at the auction amounted to 1.079 billion manats. The weighted average interest rate on deposit transactions concluded within the auction was 7.76%. The CBA has…