According to the State Statistics Committee, the nominal income of the population of Azerbaijan as of 1 December was at the level of 36 billion 770.2 million manats (+ 5.7% compared to January-November of last year).
This means that the per capita figure was 3,860 manats (+4.4%), which is 0.7% higher than the average annual inflation rate.
Final consumption (goods and services) absorbed more than three quarters (75.7%) of the revenue, 9.5% was spent on the payment of taxes, social security contributions and membership fees, 3% - payment of interest on loans, and 11.8% - accumulation. --17D-
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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