MPs ready to approve the report on last year"s government economic development
By evening, March 14 Parliamentary Report of the Government of Azerbaijan on last year's socio -economic development will be approved. This is evidenced by speeches of deputies. All of them, with few exceptions, are satisfied with the performance of the Cabinet of Arthur Rasizadeh.
Prime Minister, speaking at the Parliament, in fact, repeated January theses president on domestic success and strengthening the international image of the state. According to the statistical detection, gross domestic product reached 57.7 billion manat ( 5.8% more than the year before) or 6207.3 manat ( $ 7,912.5 ) per capita. Diversification of the economy, in his opinion, has reached unprecedented rates - the growth of non-oil sector of the economy was 9.8 % in value added produced 32.6 billion manat.
Foreign trade turnover amounted to $ 34 billion 687 million (+3.35 %) with a surplus of $ 13.27 billion. Most of the export was 2,111 products - $ 23 billion 975 million, and the import of 6,159 products accounted for $ 10 billion 712 million (+10.95 % per year). Largest trading partners in recent years, according to tradition, were Italy, Indonesia, and Russia.
Cumulative investment since 2003 is 127.5 billion manats ($ 155.6 billion) - the Prime Minister said. At the beginning of this year, the number of able-bodied population in Azerbaijan - 4,757,800, of which only 236,600 are not engaged in any field of economics. By January 1, 2014 nominal income amounted to 37.6 billion manat (6.65 per year), with an average salary of 423 manat (+ 8 % per year) . Income per capita by the end of last year was 4,039.6 manat. - 17D-
Economics
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In 2024, Azerbaijan’s wheat production reached 1,685.7 thousand tons, reflecting a sharp decline of 148.2 thousand tons compared to the previous year, according to the State Statistical Committee. Wheat productivity also fell by 8.5%, dropping from 33.8 quintals per hectare in 2023 to 30.9 quintals in 2024. These figures underscore a troubling trend for a nation that meets only 25% of its domestic wheat needs through local production.
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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