In January, the volume of gross domestic product amounted to 5 billion 233.1 million manat, an increase year on year in comparable prices by 0.8%, according to the January 17 statement of the State Statistics Committee of Azerbaijan.
The share of non-oil sector in GDP structure was in the first month 56.3% (AZN 2 billion 947 million). At the same time it increased by 1.5% in the non-oil sector.
GDP per capita in January amounted to approximately 540 manat, by 0.3% less than in January 2016. ----08D
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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