According to the quarterly data of the State Statistics Committee of Azerbaijan, the nominal income of the population amounted to 10 billion 303.5 million manat (+ 9% to April 1 of the previous year).
This statistics recognizes that the average annual inflation rate from January to April was at 10.8%. Given the fact that on February 21 and December 21 the Azerbaijani national currency slipped by 100% against the US dollar, the real inflation rate for all types of goods and services amounted to 40%, while the prices of imported goods almost doubled.
Statistics says that by April 1, the nominal income per capita was 1,073 manat (AZN 357.7 a month). According to experts, the method of averaging the income of the population is wrong, because the incomes of oligarchs and low-income people living on social benefits or pensions are equalized. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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