In 2014, Azerbaijan imported raw tobacco and tobacco products, totaling about $ 400 million, which is 117.8% more than in 2013, according to the State Customs Committee.
The share of tobacco products in the structure of imports last year amounted to 4.45%, 1.29% more than in the previous year.
If we assume that after the payment of customs duties and taxes, as well as wholesale and retail markups the total value of tobacco products will reach about $ 700 million, the per capita consumption of cigarettes in Azerbaijan without local production will be approximately $ 72.5 per year.
Last year the local production of cigarettes also increased. According to the State Statistics Committee, there were produced more than 2 billion cigarettes, which is two times more than in 2013. Manufacturers (European Tobacco-Baku and Cahan Tobacco) rated their products to 24.3 million manat, which is 66.6% more than in the previous year.
It is noteworthy that over the past two years, the retail price of cigarettes in Azerbaijan is growing rapidly. While in 2013, smokers paid 11.5% more for a pack of cigarettes, in the past year, prices rose by another 13.6%. ----08B
Economics
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A business meeting took place between the Chamber of Auditors of the Republic of Azerbaijan and Reanda International Network Limited on July 26, aiming to study advanced global practices in independent financial control and expand their application in Azerbaijan. This initiative follows the program instructions of the Azerbaijani president, the Chamber of Auditors reported.
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Azerbaijan's inflation for the 12 months ending in June stood at 1.1%, with core inflation at 0.8%, the chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, announced at a press conference on Monday. Annual food inflation was recorded at 0.2%, non-food inflation at 1%, and services inflation at 2.4%.
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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