A record number of cars imported in April
Over four months of this year Azerbaijan imported 30,737 vehicles. At the same time imports increased in April compared with the previous month by 28.4%.
According to the State Customs Committee (SCC) , in April, 9358 were imported. In January, the figure was 7,130, in February - 6962, March - 7288 cars.
The passenger cars accounted for 90.2%, or 27,741 imported cars.
In January-April this year 335 buses, 2356 trucks, and 305 units of specialized equipment were imported to the country.
According to the SCC, over the first four months of this year Azerbaijan imported all kinds of vehicles and spare parts at a declared total cost of $ 342.5 million, by 18.6% less than in the same period of 2012.
According to the State Statistics Committee, in January-April this year Azerbaijan produced 47 trucks, 242 cars, and 197 tractors. -08D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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