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
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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