The International Energy Agency (IEA) in its last report forecasted a relative growth of Iranian crude oil export next year after signing of the agreement on the Iranian nuclear program in Geneva.
According to the IEA forecasts, next year demand in crude oil at the world market will be higher, than it was thought and considering the current problems with energy carriers production, this could lead to growth of oil prices.
According to the IEA estimates, in November 2013 Iranian oil and gas condensate export increased by 89,000 barrels and reached 850,000 barrels a day. This is connected with growth of export to China and resumption of export to Taiwan. Oil production in Iran increased by 13,000 barrels and reached 2,710,000 barrels a day.
The Geneva agreement cancels ban on insurance of Iranian oil exported by the international companies and therefore, one of the main obstacles hindering Iranian energy carriers’ export to the foreign consumers will be lifted. But this does not mean that the similar volume of Iranian oil export will be resumed. The limitation of Iranian oil deliveries to the Asian countries and the European Union’s sanctions against Iran remain in force and this will not allow Iran significantly increasing its oil export, reported Iran.ru.—0—
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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