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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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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