Elecnor launches construction of a wind farm in Azerbaijan

Representatives from the World Bank, Azerbaijan’s Ministry of Digital Development and Transport, and the leadership of the Baku International Sea Trade Port (BISTP) convened in Alat on Monday to discuss the implementation of the second phase of the port’s development, the largest on the Caspian Sea.

Investments in Azerbaijan's fixed capital totaled 15.91 billion manats ($9.36 billion) in the first 11 months of 2024, marking a 3.8% decline compared to the same period last year, official data showed on Thursday by the State Statistics Committee.

Azerbaijan's foreign trade turnover reached $38.4 billion in the first ten months of 2024, according to official data released by the State Customs Committee. The country's trade surplus stood at $5.1 billion, with exports accounting for $21.8 billion, or 56.7% of the total turnover, while imports were valued at $16.6 billion.

Azerbaijan's retail sector demonstrated steady growth in the first 11 months of 2024, driven by increased consumer spending and higher sales of both food and non-food items. According to official statistics, the country's retail trade turnover reached AZN 53.87 billion (USD 31.7 billion), reflecting a real-term growth of 3.8% compared to the same period last year.