Extraction and primary processing of ferrous, non-ferrous and precious metals in Azerbaijan in the first quarter declined. Neither the State Statistics Committee, nor the mining companies disclosed the reasons for the decline of production rates.
According to the State Statistics Committee, in January-March this year, production of iron ore in the Dashkesan region was 51.4 million tons, 15.7% less than in the first quarter of last year. In this case, the warehouses mining plant on the 1st of April this year, has accumulated 34.7 thousand tons.
Azerbaijan Mining Operating Company that operates the gold mine Kedabek yet noticeably slowed down its production. During the reporting period there was produced 473.6 kg of precious metals, which is 45% less than in January-March 2012. Gold production was 266.8 kg, 13.7% less than the year before. With the production volumes, respectively 206.8 kg of 93.2 tons, the production of silver (-13.3%) and copper (-37.4%) reduced. - 08D-
Economics
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The foreign, trade, and transport ministers of Azerbaijan, Turkey, and Uzbekistan convened this week in Ankara for their second trilateral meeting, culminating in the signing of the Ankara Declaration—a strategic document aimed at strengthening regional cooperation in economic, energy, and transport sectors.
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According to government data, Azerbaijan is experiencing a sharp increase in meat and dairy imports amid a decline in livestock numbers and a surge in feed prices, highlighting the country's difficulties in meeting domestic demand for livestock products.
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Azerbaijan's foreign trade turnover fell 6.98% in 2024, with exports dropping sharply while imports surged, raising concerns over the country’s trade balance and currency stability, according to customs data.
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In a strategic move to bolster the United Kingdom’s trade and investment presence in Eurasia, the UK government has appointed John Alderdice, an experienced Northern Irish politician and member of the House of Lords, as its new Trade Envoy to Azerbaijan and Central Asia. The announcement, made on January 29, 2025, by the UK Trade Minister, is part of a broader initiative to reinforce the country’s global trade network through a newly formed team of 32 trade envoys.
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