Exports of Goods from Azerbaijan Fell to Lowest Level
In August the lowest volume of export of goods from Azerbaijan was marked - $ 741 million.
So far (as of 12:00 a.m. on September 28), the State Customs Committee has not published the customs statistics for the first eight months of 2015, although according to the normative act, these statistics must be disclosed no later than the first half of the month after the reporting period. Information about the volume of exports of goods was reported by the economist Rovshan Agayev on his Facebook page.
The highest volume of exports this year was recorded in January – up to $ 1 billion 278 million.
In January-August, the volume of export of goods from Azerbaijan was $ 8 billion 184 million, while in the same period of 2014 foreign exchange earnings from exports accounted for twice - $ 15 billion 351 million. ----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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