According to the results of monitoring carried out on the building materials market in August, prices declined on average by 0.7%. Price reduction is observed mainly for rebar imported from Russia and Ukraine - 3.5%, zinc sheets - 7%, iron coat - 5.5%. This trend has occurred in respect of similar materials produced locally. During the month boards mainly imported from Russia rose by 4.3%, wood - 2.5%, tile flooring imported from Turkey - 4%, wallpaper - 5%. In August, the share of local products in the market of building materials was over 52%.
Experts attribute the decline in prices for construction materials to seasonality and large amounts of the imported material. They believe that the market activity will continue, and prices will remain stable.
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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