Caspian Construction Week Opens in Baku, Showcasing Major Infrastructure and Development Projects

Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.

According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.

Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.

Azerbaijan's retail trade turnover witnessed a significant boost in the first nine months of 2024, as consumers spent 427 billion manats on goods. This marked a 36% increase compared to the same period in 2023, according to recent data. The retail sector's growth was driven by both food and non-food product sales, which rose by 18% and 57%, respectively.