In the first half of 2016 the prices of consumer goods and services in Azerbaijan increased 10.5% compared with the same period of 2015.
Food prices grew by 11.9%, industrial goods - by 15.4%, paid services - by 4.5%, the State Statistics Committee informed.
The rise in prices continued in June. According to the State Statistics Committee, in comparison with May, prices for consumer goods and services rose by 0.5% and non-food goods - by 0.3%.
Paid services rendered to the population remained stable. Prices for several products decreased, but it was mainly due to the seasonal products.
In June compared with May, the majority of non-food products increased in price. This mainly affected textiles, clothing, footwear, building materials, jewelry, carpets, floor coverings, glassware, cookware, appliances, TV sets, computers, cars, etc. -0-
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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