The market of cars and other vehicles in Azerbaijan is experiencing a deep recession. Over the past 12 months, deliveries of cars in Azerbaijan decreased by 25,000 units, about 2,000 more than had been purchased abroad in January-September 2015 (22,900).
According to the State Customs Committee, during this period the number of deliveries of natural and legal persons of motor vehicles amounted to 20,386 units, while in the first nine months of 2014, 43 498 new and used cars were supplied from abroad.
It is noteworthy that the official distributors of several foreign car brands have declared the closure of their sales salons.
It is noteworthy that the number of supplied trucks has reduced. If in January-September 2014 3,946 trucks were purchased abroad, over the same period in 2015 this figure fell to 1,584.
The volume of imports of cars began to decline after the increase in the costs of customs clearance at the beginning of this year. ----- 08D
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review