Baku Stock Exchange in January revised reporting of securities turnover, adding more stock transactions in the derivatives market.
According to the report of BSE in January the turnover of securities amounted to 1 billion 933,500,000 manat considering margin trading in derivatives of securities. In January last year, when BSE had no trade in these financial instruments (their trade has been conducted from August 2014), the turnover of securities amounted to 1 billion 483,100,000 manat. Note that in January the turnover of the currency and commodity positions in FOREX BSE reached 1 billion 575 million manat.
Last month, the Ministry of Finance and the Central Bank did not participate in the primary market for government securities. On the corporate market, the volume of placement of shares through BSE amounted to 18.6 million manat. The Mortgage Fund under the Central Bank has placed bonds worth 3 million AZN at 3% per annum. The volume of secondary market for its securities reached 252 million manat. The share of other issuers accounted for approximately 40 million manat of the secondary market for corporate bonds. In January Unibank OJSC through bonds attracted more than 10 million manat (9.75%). ----08B
Economics
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Azerbaijan's tourism industry has shown marked signs of recovery and growth in the first nine months of 2024, underscoring the sector's resilience and adaptability in the post-pandemic landscape. As of September 2024, nearly 2.086 million foreign tourists visited Azerbaijan, a robust increase of 30.2% compared to the same period in 2022. The country witnessed a particularly strong performance in July 2024, with 271,591 tourists—a 21% rise from July last year.
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Freight traffic along the Trans-Caspian International Transport Route has shown a remarkable increase in the first nine months of 2024, bolstered by a concerted push from participating countries to enhance their transport corridors and logistical frameworks. The strategic corridor, which links Asia and Europe via the Caspian Sea, has seen cargo volumes surge by 2.7 times compared to the same period in 2022, highlighting its growing significance as a viable alternative to traditional trade routes.
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In September 2024, the prices of building materials in Baku increased by an average of 0.9% compared to the previous month, reflecting a stable yet slightly inflationary trend in the construction sector. This trend has been driven by a mix of local demand factors and fluctuations in import prices, particularly for materials such as timber and rebar.
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The British Islamic Trade Association and the Association of Food and Beverage Producers of Azerbaijan signed a Memorandum of Understanding (MoU) during the first Azerbaijan Halal Business and Tourism Forum (AZHAB Forum), held in Baku on October 8-9, 2024.
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