Azerbaijan's Trade Turnover has Decreased: Export Slowdown and Import Growth

Recently, three credit unions in Azerbaijan were removed from the market. The Central Bank (CBA) revoked the licenses of the "Abbas," "Amin," and "Azərmaliyyə" credit unions. As a result, the number of licensed credit unions in the country has dropped to 36.

On Tuesday, Azerbaijan Airlines (AZAL) signed an agreement with Spanish company Indra to implement the advanced MANAGAIR air traffic management system as part of the country’s long-term modernization strategy.

Azerbaijan witnessed a 6.5% decline in the volume of imported vehicles in the first 11 months of 2024 compared to the same period last year. However, the total value of imports surged by nearly 10%, reflecting a shift in consumer preferences and pricing trends.

Azerbaijan's freight and passenger transportation rose by 3.3% and 8%, respectively, in the first 11 months of 2024 compared to the same period last year, according to the State Statistics Committee.