In the four months of this year, Azerbaijan produced 561.3 million cigarettes, which was 13% less than in the comparable period of 2014, the State Statistics Committee said. According to the State Customs Committee (SCC), imports of cigarettes also reduced.
Since the beginning of the year the volume of production of tobacco products in the country (manufacturers - JSC European Tobacco-Baku and LLC Cahan Tobacco) amounted to 6.8 million manat, which was 17.7% less than in the same period in 2014.
At the same time, according to the same SSC, for the four months the retail price of cigarettes in connection with increase of import excise taxes grew by 51.4%.
In January-April, Azerbaijan imported raw tobacco and tobacco products worth $ 105.5 million, which was 9.2% less than in the same period last year.
In 2014, Azerbaijan imported 13.3 billion pieces of tobacco products totaling $ 390 million, which was 17.1% more than in 2013. The production also increased by 66.6% and amounted to 24.3 million manat.
Cigarette consumption in Azerbaijan totals 15 billion pieces a year. That makes about 1,500 pieces per capita. ----08B
Economics
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In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
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Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
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In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
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The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
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