Baku/23.12.13/Turan : In the non-oil sector, the average size of accrued nominal wages in January-October this year amounted to 386.8 manat . It is exactly 4 times less than in the oil sector , said the State Statistical Committee of Azerbaijan Turan .
Non -oil sector workers of state enterprises earn per month on average to 336.6 manat. This is 19.3 % less than the national average - 416.7 manat . In general , the average salary in the country grew at an annualized rate of 6.8%.
During the 10 months of this year the average wage in the private sector ( excluding oil sector) was 539.1 manat .
In industry, the average nominal wage , taking into account the mining industry (1,510 manat) is 645 manat. In this sector, the number of employees compared with January-October 2012 increased 6.1 %, while the average wage - 8%. Exactly 50 % of employed persons working in industry processing plants - 91.2 thousand people.
However, in many industrial sectors average wages are below the average for the country. For example, workers in the food industry average charged 304 manat ( 22.9 %) , the industry of beverages - 371 manats ( 18.8 %) , the garment industry - 247 manats ( -4.7 %) , printing - 302 manats ( 9.8 %) , production of motor vehicles and trailers - 232 manats ( -4% ), etc. - 08B -
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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