Azerbaijan’s GDP volume reached almost 43.48 billion manats in January-July, up by 0.2% YoY, according to a report of the State Statistics Committee. The volume of GDP per capita stood at 4,436.3 manats. In January-July the volume of GDP produced in the non-oil sector of Azerbaijan increased by 0.9%, while in the oil and gas…
Azerbaijan intends to reduce dependence on imports of basic dairy products, Chairman of the Public Association “Producers and Exporters of Milk and Dairy Products of Azerbaijan” (ASEB) Samir Eyyubov declared. “Two main types of production can be distinguished in the dairy industry – the production of butter and the production of yellow cheese varieties. The…
Azerbaijan plans to produce 200,000 tons of persimmons by the end of this year, which will slightly exceed last year’s figure, Chairman of the Association of Persimmon Producers and Exporters Gadir Yusifov reported. According to him, persimmon export brought the state treasury a significant income of $100 million in 2017. “This is a fairly good…
The growth rate of Azerbaijan’s economy in 2018 may exceed forecasts, member of the country’s Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, MP Rufat Guliyev said. He added that 2017 was a turning point for Azerbaijan, but this year the country’s economy grew again – over six months the GDP grew by 1.3%. “I…
Azerbaijan’s Kapital Bank is increasing its authorized capital by 40 million mantas, to 225.85 million manats, said a message posted on the ESID (Electronic System for Information Disclosure) portal. For this purpose, the bank has issued 3,228,410 shares worth 12.39 manats each. Kapital Bank, being the legal successor of “Sberbank”, has more than 140 years…
Azerbaijan may increase wine exports 2-fold by the end of 2018, Chairman of the Azerbaijan Wine Producers and Exporters Association Elchin Madatov declared. “The export of Azerbaijani wine products exceeded $4 million in the first half of 2018, up by 80% YoY,” Madatov said. “By the end of 2018 we expect a 100% increase in…
Azerbaijan’s NIKOIL Bank and non-bank credit organization TBC Kredit (subsidiary of Georgian TBC Bank) are holding negotiations on the merger. To this end, both parties have signed an agreement on strategic partnership. A source close to the negotiations said that it was too early to talk about the actual merger, because there were still a…