In local ports handled 5.3 million tons of cargo
The volume of cargo handled at sea ports in Azerbaijan on June 1, amounted to 5.3 million tons (it is unchanged compared to the same period last year).
According to the State Statistics Committee, the share of local goods was 12.6%, while 87.4% came from the international transit cargo.
By the end of 2013 at seaports 12.4 million tons of cargo was handled.
Local ports (Baku, Astara, Lankaran and Sumgait) are located on the Caspian Sea. The largest port (Baku) has 17 berths, of which 5 are designed for the transportation of crude oil and oil products, 10 - for transportation of timber and other cargo and 2 - for passengers.
The Baku port also has large oil terminals in the Dubendi and Sangachal settlements. -17D-
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- Politics
- 20 June 2014 17:14
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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