In 2016 CJSC Azerbaijani Railways transported 1 million 927 thousand passengers, which is 1.8% more than in the previous year. The growth was achieved by operating the line between the cities of Baku and Sumgait since September 2015.
According to the State Statistics Committee, in 2013-2014 the number of railway passengers was about 2.5 million. The number of railway users in Azerbaijan has been declining mainly after the elimination of suburban trains in Baku in 2010. In 2007, the railways served about 6.6 million passengers. In 2010, this figure fell to 4.8 million.
State Railway Company does not publish financial reports. Its management claims that passenger transport within the country is unprofitable. Tariffs for passenger transportation are regulated by the Tariff (Price) Council.
The State Railways recently noted the fact of transportation of 1 million passengers on the route Baku-Sumgait-Baku in September 2015. -----08D
Economics
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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