From January to September 2013 investments into Azerbaijan’s oil industry totaled 3,913,000,000 AZN ($5,016,000,000 at the current exchange rate), a source from the State Statistical Committee said.
They constituted 33.1% in total volume of investments into economy. Investments into the oil industry increased by 1,355,000,000 AZN against the same period last year.
During 2012 investments into the Azerbaijan oil industry totaled 3,648,000,000 AZN ($4,676,000,000 at the current exchange rate). Investments into the oil industry increased by 17% against 2011.
The investments into the oil industry have increased, because of implementation of the oil and gas projects such as Chirag Oil and Shah Deniz Phase 2. They constituted 23.8% in total volume of investment in economy of the country. –0--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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