In January of this year production of building materials in Azerbaijan amounted to AZN 8.8 million, by 53.6% less than in January last year, the State Statistics Committee (SSC) told Turan.
Last month it produced 101.200 tons of cement, by 46.9% less than in the same period of 2015. In cement plants of the warehouses accumulated up to 61.400 tons by 1 February. The enterprises of the warehouses have over 10.3 million tons of masonry materials (cement and artificial blocks and bricks.) This is approximately by nine times greater, than was produced in January. The gypsum manufacturing decreased by (-22.6%), lime – by (-31%), bricks – by (-28.8%), a concrete solution by (-52.9%). The decline of the sector of construction materials production is accompanied by a similar trend in the real estate market, where there is a reduced need. --08D--
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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