For Every 100 People 108 Mobile Phone Users
Azerbaijan is still a high level of mobile phones per capita. According to the Ministry of Communications and High-Tech, for every 100 people there are 108 mobile phone users in the country. In addition, each a hundred people on average have 17.1 fixed telephones.
As stated in the annual report of the structure, the total investment in the development of ICT telecommunications and mail accounted for 354 900 000 manats as of January 1 (annual growth of 3.7 times), of which 189 million manats fell on the public sector (an increase of almost 5 times).
Recall that in the GDP there is a 2% share of communication. In the past year across the country there were commissioned 124 new telecom exchanges and there were laid fiber optic cables with a total length of 575.5 km. --17D-
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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