In the first quarter of this year, enterprises in Azerbaijan rendered services to customers in the amount of 353.4 million ($ 450 million). According to the State Statistics Committee, it is 15,9% more than in January-March 2012.
72.1% of services consumers are individuals, the volume of services in terms of value of 254.8 million manats (growth by 20.9%).
The share of mobile services rendered to the country's three existing mobile operators - Azercell Telecom, Bakcell and Azerfon in 2012 had 58.5% of the total volume of communication services or AZN 206.9 million (up 10.7%). - 17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) is examining opportunities in geothermal energy in partnership with U.S. companies as part of Azerbaijan's efforts to advance renewable energy. SOCAR President Rovshan Najaf and John Wallace, CEO of DeGolyer and MacNaughton, met in Baku to discuss initiatives including geothermal energy projects and carbon capture, utilization, and storage (CCUS) technologies, SOCAR announced on Tuesday.
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On Tuesday, the Turan E-Commerce and Export Forum in Baku unveiled the new "Made in Turan" trademark, marking a bold step toward uniting the economic potential of Turkic states under a single label. This initiative aims to stimulate trade and strengthen economic ties among the member states of the Organization of Turkic States (OTS).
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According to the State Customs Committee, food import expenditures in Azerbaijan rose by 10.2% in the first ten months of 2024 compared to the same period last year, reaching a record $1.97 billion. This increase, driven by growing demand for vegetables, fruits, tea, rice, and animal products, highlights the country's rising dependence on imported food despite government efforts to boost domestic agricultural production.
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Azerbaijan's potato sector, a cornerstone of the nation's food supply and its second most significant agricultural product, is in sharp decline. Production dropped by 7.6% year-on-year from January to October 2024, reflecting a long-term downward trend, according to the State Statistics Committee.
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