In January-February 2013, the State Customs Committee collected to the state budget customs duties and taxes in the total amount of 179.6 million manat. This is 15% more than in the same period last year.
The structure of customs duties by types of duty and taxes changed. The majority (75.6%) of revenues accounted for by VAT - 135.8 million manats (49.4%). Parallel decreased revenues on import customs duties. In January-February 2012, their volume was 54.3 million manat, and for the same period this year this figure had fallen to 35.5 million manat (-34.7%).
The volume of road tax was 2.4 mln (+19.5%), excise tax - 5.7 mln (-34.5%). In January this year, the amount of excise taxes decreased about a quarter.
In 2013, the government raised its forecast on customs duties from 1200 million to 1380 million manat. - 08D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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