The cement company Norm, which started in 2013 to manufacture cement in the Garadagh district of Baku, at the end of 2014 gained an income - 713 thousand AZN.
According to the financial report subjected to an audit by Deloitte, last year the sales revenue was 51.8 million AZN. In view of the direct cost of sales the profit amounted to 18 million 187 thousand AZN.
Over the past year the company's assets (258.5 million manats) increased by 9.4%. Commitments of Norm LLC to creditors and suppliers were 151.7 million mantas at the beginning of the year.
The construction of the Norm cement plant started in 2011. The production capacity is 5,000 tons of clinker per day and 2 million tons of cement per year. This is the largest cement plant in Azerbaijan. --- 08D
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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