Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $5.387 billion in February, up by $1.018 billion (23.3%) YoY, according to statistical data posted on the CBA website on March 7. During the month, CBA reserves rose by $6.1 million. Currency reserves of CBA increased by $1.36 billion or by 34.2 % in…
The Azerbaijani banking sector will be able to overcome the challenges before it, Ziyad Samadzade, chairman of the parliamentary committee on economic policy, industry and entrepreneurship, said at a conference on “Financing through capital markets, listing and investments” in Baku on March 6. Samadzade said that the banking sector of Azerbaijan had gradually begun to…
As of late January Azerbaijani banks’ liabilities to the country’s Central Bank (CBA) decreased to 501.7 million manats, or more than 3-fold YoY, according to the report of the country’s Financial Market Supervisory Authority. Banks have reduced their liabilities by 19.7%, from 30.35 billion manats to 24.37 billion manats, according to the report. The main…
The export of meat from Ukraine to Azerbaijan rose 2.7-fold YoY and amounted to $37.8 million in 2017, Nikolai Pugachev, director of the national scientific center “Institute of Agrarian Economics” and academician of the National Academy of Agrarian Sciences, said. During the period, Azerbaijan became one of the TOP-5 importers of this product from Ukraine.…
Azerbaijan was a leader in tomato export to Russia in 2017, according to the Russian Federal Customs Committee. Azerbaijan increased its export volume by 50%, to 151,000 tons ($151 million). Azerbaijan’s share in Russian tomato import increased from 22% in 2016 to 30% in 2017. Russia accounted for 99.8% of Azerbaijan’s total tomato export in…
Azerbaijan’s Rabitabank has increased authorized capital by 12.8 million mantas, to 101.3 million manats, the bank said in a message. The bank’s authorized capital was increased at the expense of existing shareholders. The aggregate capital of the bank reached 104.6 million manats. The main goal of increasing the bank’s capital is to strengthen stability of…
In 2017 Azerbaijan imported rice at the sum of $36 million, declared the Minister of Agriculture of Azerbaijan, Heydar Asadov. According to the announcement, last year agrarians of Azerbaijan harvested 15.9 thousand tons of rice throughout the areas of 5.1 thousand ha, with the average yield at 3.11 ton/ha. The annual demand for rice in…