For eight months of this year, Azerbaijan had foreign trade relations with 146 countries of the world for a total of $ 21.8 billion, which is 7.6% less than in the comparable period of 2011.
According to the published data of the State Customs Committee, in January-August this year, Azerbaijan exported goods totaling $ 15.8 billion, which is 11% less than in the same period last year. The total declared value of imported goods amounted to more than $ 6 billion, or 3% more than in the same period of 2011. Thus, the positive trade balance of the country for the mentioned period was $ 9.8 billion.
The share of oil and gas in the country's export portfolio was 93.4% ($ 14,782 million). - 08D-
Economics
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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