For the first two months of 2013 transit cargo transportation in the Azerbaijan section of the corridor Trans Europe - Caucasus - Asia (TRACECA) amounted to 2 million 852.5 thousand tons. This was 0.1% more than in the corresponding period of 2012. Last year the freight along the corridor as a whole decreased by 3.2%.
In the State Statistics Committee they told Turan that the share of railway accounts for 1 344.1 thousand tons (+3.9%) and maritime transport accounts for 1 508.4 thousand tons (3%) of transit.
According to the State Customs Committee, in January and February of 2013 the volume of freight transportation through the territory of Azerbaijan amounted to 3,087 tons (46.3%).
The program of inter-regional technical assistance program TRACECA was initiated in May 1993 to develop a transport corridor from Europe through the Black Sea, the Caucasus, and the Caspian Sea with access to the Central Asian countries. - 08D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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