Import of cars increases by 11.4%
Over the first nine months of this year Azerbaijan imported 75.500 cars; this is 11.4% more than in the comparable period of 2012.
According to the State Customs Committee (SCC), during this period of the year, officials and dealers, as well as individuals on the country delivered 68,487 units of passenger cars, which is 16.3 % more than in the same period last year. In the structure of import certain proportion belongs to used cars, the number of which is not reported since 2012 by SCC.
This year imports of special equipment (tractors, excavators, bulldozers, cranes and other motor vehicles), buses and trucks decreased. Since the beginning of the year were imported 689 units ( minus 157) , buses and vans - 665 ( minus 187 ), and 5661 trucks (minus 1527.) - 08D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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