The segment of Information and Communication Technologies earned 251.6 million manats by March 1 (+ 7.7% as compared to January-February of last year).
According to State Statistics Committee, the most active were the local private enterprise communications and mail (80.3%). Moreover, almost three quarters (71.5%) of the consumer services accounted for individuals - the amount was at the level of AZN 179.8 million (minus 2.4%)..
In physical terms, the leaders are mobile operators (Azercell Telecom, Bakcell and Azerfon) - for two months they provided 48.6% of all services in the amount of 122.2 million AZN, although their ability decreased by 10.7% in comparison with January-February of last year. --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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