In January 2017 insurance companies concluded 7,535 contracts of compulsory insurance of immovable property, according to the Bureau on Compulsory Insurance.
Premiums on the above-mentioned insurance contracts amounted to 2.6 million manat in January.
69.7% of the contracts were concluded on houses and apartments, 0.4% on office buildings, and 29.9% on other real estate.
Compared to the same period of 2016, the number of insurance contracts grew by 43%, and the volume of premiums fell by 55%. ----71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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