Passenger carriages by air grow
Over three quarters of this year airlines carried 1,225.600 passengers, which is by 14.8% more than over the same period in 2011 This trend is ongoing over the last two or three years of sharp decline in passenger carriages by rail; but this year, passenger carriages by rails fell by 20.8%.
Overall growth rate of passenger traffic over the reported totaled 8.5%.
According to the State Statistical Committee (SSC) of the country, the share of public CJSC "Azerbaijan Airlines" is 98.5% of passenger carriages of local airlines. The share of other local airlines ("Turan Air") is 1.5% of carriages.
In the market of air carriages in Azerbaijan are involved airlines of Russia, Kazakhstan, Iran, Turkey, Germany, Britain and other countries. The SSC does not have statistical data on the volume of passengers carried by them. 08D
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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