Number of outstanding active cards of Azerbaijani banks increased in November 2012 to 106 000 units, reaching 5,071,000. Annual growth was 11.8%.
In January-November, cardholders carried 51.187 million transactions totaling 7891 million manat. With the growth of the total number of payments by 11.6% and their volume by 22.2% compared to the same period in 2011, the number of credit card transactions increased by 45.8% to 3.713 million, while their turnover - 38.6 % to 969 million manat.
The main part of card transactions in the period of last year still fell on ATMs - 43 990 thousand transactions in the amount of 6826 manats. Of these, 98.6% for operations connected with the withdrawal of cash.
Service cards are produced through 2240 ATMs and 36,482 POS-terminals. For the period reported, the number of ATMs increased by 6.5% and the number of POS terminals grew 2.9 times.
As of December 1, 2012 in Baku there was established 1,249 ATMs and 33,333 POS-terminals. In objects service operates 34 781 POS-terminals, including in Baku - 32 204 POS-terminals. - 15V -
Economics
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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Azerbaijan’s labor market has expanded, with the total number of employees in the country’s economy reaching 1.78 million as of early January 2025, according to preliminary data from the State Statistics Committee. The data reveals a nearly equal distribution of employment between the public and private sectors, with 882,800 people working in state-run institutions and 895,700 in the non-public sector.
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