Customs Value of Imported Vehicles Increased
During the first three quarters of this year, official distributors and dealers delivered 28,540 passenger cars from 26 countries to Azerbaijan, representing 65.6% of total imports during the period.
According to the State Customs Committee, the total declared value of cars in this year amounted to $ 337.8 million. The cars were registered so as to attract a customs duty, road tax, VAT and excise tax and cost an average of $ 11 837. In 2013, this figure was $ 8,157.
From the beginning of 2014, purchased from abroad were 2,624 vehicles with engine capacity above 3000 cm3, which were registered by the customs an average of $ 34,643.
Large cars with capacity of the engine above 3000 cm3 (693 units) were delivered from Germany at an average price at $ 64 864. Their American counterparts (375) were purchased at the price of $ 18 152, British (191) - $ 55 149, Japanese (995) - $ 20,428, Korean (259) - $ 9 085. More than all were appreciated Italian brands - an average of $ 120 300. Since the beginning of the year Azerbaijan has received 30 vehicles with engines with a capacity above 3000 cm3 from Italy.
According to the State Customs Committee, the geography of imports of new cars for the first 9 months of 2014 was as follows:
Country | Cars (number) | Total value (thousands of USD) |
Germany | 4,503 | 69,202.3 |
USA | 980 | 17,816.2 |
Great Britain | 650 | 15,895.2 |
Czech Republic | 390 | 3,250.9 |
China | 1,977 | 17,090.8 |
France | 276 | 3,393.1 |
India | 726 | 6,301 |
Italy | 63 | 4,401.1 |
Iran | 1,317 | 4,464.8 |
Spain | 247 | 2,968.2 |
Sweden | 23 | 877.8 |
Canada | 3 | 170 |
Korea | 7,092 | 68,218 |
Hungary | 10 | 176 |
Mexico | 46 | 555.7 |
Romania | 56 | 586.5 |
Slovakia | 92 | 3,615.5 |
Thailand | 684 | 9,244.4 |
Turkey | 603 | 7,974.9 |
Taiwan | 157 | 968.3 |
Japan | 4,811 | 65,027.9 |
Russia | 2,418 | 19,888 |
Uzbekistan | 1,384 | 14,435.5 |
Note that cars are bought by private companies and individuals, as well as government agencies to upgrade the fleet. --08B--
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review