Entrepreneurs' production costs will increase and incomes will decrease

In the ongoing year of 2024, Azerbaijan has imported more food products at a record level. Specifically, compared to the same period of the previous year, food imports in the first eleven months of 2024 increased by 10.8%. According to information provided by the State Customs Committee, our calculations showed that in the first eleven months of this year, food products worth 2,192,644,000 dollars were imported into the country, which is 213.9 million dollars more compared to the analogous period of the previous year (1,978,667,000 dollars).

According to recent data released by the State Statistics Committee, agricultural production worth 12 billion 216 million manat was produced in Azerbaijan in the January-November period of 2024, representing a 1% increase compared to the same period last year. The Committee's report also noted that the value of crop production increased by 0.6% to 6 billion 23 million manat, while the value of livestock production rose by 1.4% to 6 billion 192 million manat over the past year.

The Azerbaijani Parliament has amended the procedures for leasing agricultural lands in the liberated territories of Karabakh to entrepreneurial entities.

The State Statistics Committee recently reported that in November 2024, the consumer price index in Azerbaijan was 100.7% compared to the previous month, and for January-November, it was 102.0% compared to the same period of the previous year.