The State Statistics Committee informs that the Baku-Tbilisi-Ceyhan (BTC) pipeline from 1 January to 1 August supplied 20 million 596.4 thousand tons of oil, accounting for 78% of the total pumping volume. Of these, 2.8 million tons were transit cargo. In general, the pipeline transported in different directions 26 million 400 thousand tons (minus 3.8% versus the same period last year).
At the same time the total volume of cargo transportation by all modes of transport by 1 August was at a level of 123 million 603.4 thousand tons (minus 2.1%), with 82.2% of cargo on private transport (+ 1.7%).
Most of the goods were transported by road - 77 million 167.7 thousand tons (+ 2.8%), 26.4% - by pipelines, 8 million 263.9 thousand tons – by train (minus 18.6%), 3 million 20.1 thousand tons – by sea transport (minus 27.1%). The real plus (+ 21.1%) came from the air carriers - 85.1 thousand tons. --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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