In the first eight months of this year Azerbaijan delivered 3,454 vehicles from abroad, which was 6.1 times less than in the comparable period of 2015.
According to the State Customs Committee, 575 vehicles were bought abroad in August, including 506 cars. In general, this year the number of passenger cars delivered to Azerbaijan totaled 2,981, a part of which were formerly used.
The collapse of the market of cars is related to set of problems in the economy of Azerbaijan, caused by its stagnation due to international oil prices. As a result of these processes, banks experience difficulties with the issuance of loans, including car loans. And consumers have reduced expenses on luxury goods, one of which is considered to be a private car in Azerbaijan. ----08D
Economics
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Azerbaijan’s SOCAR Polymer has reported a substantial rise in propylene exports, marking a 65% increase in September 2024 compared to previous months. This surge comes amid a general slowdown in polypropylene exports, which declined by 17.8% over the January to September 2024 period.
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Azerbaijan’s Parliament has amended the country's tourism law to restrict certain industrial activities within tourism and recreation zones, reinforcing environmental protections aimed at sustaining the appeal of these areas to tourists and safeguarding local ecosystems. The new amendment, endorsed by President Ilham Aliyev, introduces Article 19.5 to the “Tourism Law,” specifying prohibitions on industrial operations deemed harmful to tourism areas.
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The Baku-Tbilisi-Kars (BTK) railway, launched on October 30, 2017, celebrates its seventh anniversary, showcasing robust growth in freight transportation. According to Azerbaijan Railways (ADY), BTK, a vital link within the Middle Corridor, increased its annual freight capacity from 1 million tons at its inception to 5 million tons following modernization work completed in May this year.
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, announced on social media platform X that a high-level session of the Baku Initiative on Climate Finance, Investment, and Trade (BICFIT) is scheduled for November 14 during COP29.
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