The results of the building materials market monitoring showed that in June the prices of construction materials rose by an average of 0.3%. At the time of the research it became clear that due to the season, the market shows relative activity. Over the last month, prices rose for roofing - 1%, glass - 2.4%, nails - 2.7%, and gypsum boards - 1.7%. At the same time dropped iron pipes 1.5%, channels - 1.5%, and zinc plates - 2.6%. Compared with the beginning of the year, prices fell 2.3%, while compared to the same period last year - 3.0%. During the month, the share of local production in the market was 52%.
Experts attribute the rise in prices and activity to the seasonality of the construction sector, as well as a rise in price of imported goods. As one of the owners of the construction market said, along with the rise in price of imported goods prices also affect illegal fees at customs. Experts predict a continuation of activity in the construction market, despite the fact that prices will remain stable.
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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