The automotive market analysts predict that since April the import of cars in Azerbaijan significantly reduced. However, the trend fall in the supply has been observed since the beginning of this year.
According to the State Customs Committee, in January- February this year were imported 11,998 units of passenger cars, up 858 or 6.7 % less than in the comparable period of 2013. Delivery fell as buses and vans (56 units or minus 73%), trucks (894 units - 13%) and special equipment (79 units - 40%).
Since April, comes into force environmental standard for vehicles Euro- 4 .
Experts believe that in this regard, reduced imports of used vehicles, the share of which in 2011 amounted to about half of the cars are imported.
Ecologists suggest impose a tax for luxury cars, which will help reduce both imports and unloading roads. - 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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