Azerbaijan exported in January- June this year, petroleum products worth more than $ 14.95 billion, or $ 1.25 billion or 7.7 % less than in the corresponding period of 2012. The share of oil and gas exports amounted to 94.3 % of the total merchandise exports of the country , which is 1 % less than in the previous year.
According to the balance of payments, in the total volume of oil exports for the period $ 13.3 billion (in the first half of 2012 - $ 14.8 billion), or 93.7 % accounted for crude oil and $ 0.9 billion was the share of oil products. In the structure of exports of crude oil produced cost of the Azerbaijan International Operating Company (AIOC) of oil was $ 12.6 billion ($ 13.9 billion). During the reported period, other companies of the country exported oil for $ 0.7 billion ($ 0.9 billion), including $ 625.6 million ( $ 839.1 million ) by the State Oil Company.
The volume of gas exports for the six months amounted to about $ 757 million is 25% more than in the comparable period last year. - 15B -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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