According to the State Customs Committee, from January to October 2013 89.6% of Azerbaijan’s export fell to oil and oil products.
The Committee reported that during this period 84.66% of Azerbaijan’s entire export fell to crude oil and 4.93% to oil products.
Oil export increased by 0.93%, while oil products export decreased by 7.05% against the same period last year.
Reduction of oil products export is connected with the fact that demand in automobile fuel increased by almost 10% at the local market.
In 2012 export of Azerbaijan oil and oil products constituted 90.16%. Last year 84.63% of Azerbaijan’s entire export fell to crude oil and 5.53% to oil products.—0—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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