According to the results of monitoring carried out in the building materials market in January, the market was relatively passive. Compared with December the prices fell by 0.3%. Parquet fell by 1.4%, slate – by 1.2%, iron pipes – by 1.8%, tile and ceramic tile – by 1.5%, insulation materials – by 0.8%, and prices for paint fell by 2%. Compared to the same period last year, the prices were higher by 1.6%. During the month, the share of local production in the market was over 50%.
Vendors operating in the market of building materials associate the inactivity with the season. In the winter months, mostly in the first quarter of the year, the market is usually comparatively passive. Experts also believe that in addition to seasonality, we have the monopoly, artificially high prices, and the passivity of the construction market.
In the coming days, the stability of the building materials market will continue and major changes are not expected.
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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