In 2014, the state invested in the maritime transport 142.5 million manat, which is 14.7 times more than in the previous year. Part of the old trading fleet was written off.
According to the State Statistics Committee, last year, the number of merchant and passenger ships of the state JSC Azerbaijan Caspian Shipping Company decreased from 82 to 63. The total deadweight of the ships at the beginning of 2015 was 378.6 thousand tons, which is approximately 100 thousand tons less than in 2013.
Investments in maritime transport in 2013 reached 582.3 million manat. These investments are not reflected in the financial and economic indicators. Only in the last four years, the volume of freight traffic by Azerbaijani ships declined by 20.8% and amounted to about 10 million tons in 2014.
In 2014, the company worked with losses. This trend dates back to 2013. For freight and passenger traffic revenue in the amount of 102.3 million manat 119 million manat was spent in 2014. In 2013, the shipping company’s losses reached 10 million manat.
Over the past two years the number of employees of JSC Azerbaijan Caspian Shipping Company decreased from 10,460 to 8,291 people. Thus in 2014 the average monthly salary of sailors (777 manat) increased over the year by 3.4%. -08B-
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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