Car Imports Fell by 14.4% in July
In July of this year, Azerbaijan imported 1,836 units of vehicles, which is 14.4% less than in June (2145). It is reported by the State Customs Committee.
Experts say that the number of shipments from abroad cars declining for several reasons: reduced oil revenues, business activity and household income, an increase from the beginning of this year, excise tax rates on imported cars, high compared with world prices for fuel, etc.
Since the beginning of the year were delivered 19,467 vehicles for various purposes, which is 18,871 units less than 7 months of 2014.
During the mentioned period were purchased from abroad 17345 units of passenger cars, roughly half (17 273 units) is less than in January-July last year. Part of the car was purchased by the state.
In this year it was purchased 660 buses, three times more than in the first seven months of 2014. The government in the wake of the first European Games Baku purchased abroad hundreds of buses for athletes and visitors. Several of them are now runs from downtown to Baku International Airport. The remaining buses are in the garage of Ltd. Baku Bus.
Recall that in 2012, Azerbaijan was delivered 101,255 vehicles (including passenger cars - 89 652), 2013 - 104 385 (94 879), in 2014 - 63 368 (57 615). -
From the beginning, Ganja and Nakhchivan automobile factories implemented assembly of 1,552 motor vehicles (tractors, utility vehicles, trucks and passenger cars). --08D-
Economics
-
The labor market in Azerbaijan in 2024 presents a mixed picture: a slight decrease in the unemployment rate alongside growing challenges in addressing youth employment issues. Despite significant progress in formalizing employment and creating jobs, the mismatch between labor force growth and job availability remains a pressing issue.
-
SOCAR Turkey, the largest foreign investor in Turkey, held a press conference in Istanbul to review its 2024 operational results. The event, attended by Azerbaijani media representatives, featured insights from SOCAR Turkey CEO Elchin Ibadov and Refining and Petrochemical Business Unit Head Kenan Mirzayev.
-
Azerbaijan’s energy sector remains the backbone of its economy, contributing nearly half of government revenues, buoyed by elevated oil prices. Despite a gradual decline in oil production, the rate of decrease has slowed, reflecting a stabilized approach to managing the country’s hydrocarbon resources.
-
Azerbaijan navigated a turbulent economic period in 2024, characterized by inflationary pressures, persistent fears of devaluation, and limited structural reforms. While official data pointed to moderate inflation, deeper vulnerabilities and growing public dissatisfaction cast a shadow over the country's financial stability, economist Gubad Ibadoglu noted.
Leave a review