The share of private sector in GDP declined from the beginning of the year by 2.5% and amounted to 82.5% on July 1.
According to the Ministry of Economy and Industry of the pace of development of entrepreneurship, the private sector has provided for the period 72.4% of tax revenues to the state budget (3 billion 578,600,000 manat), and its share in industrial production amounted to 80.3%. In addition, nearly three-quarters (73.9%) of the employment are on account of the private sector. Note that in Azerbaijan the privates also include all the major corporations in oil and gas, including BP.
Recall that as of 1 July, the number of business entities (potential employers), regardless of the form of ownership was 579,002 units. More than a third (37.4%) of entrepreneurs is concentrated in Baku, while the others are in the regions.
Most of them (84.3%) are individual entrepreneurs with the status of an individual. --17D-
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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