Lending to the end of the first half of the year amounted to 72.15% of all active operations of commercial banks in the country.
According to the Central Bank of Azerbaijan, in Azerbaijan there are 44 banks. As as of July 1 this year, bank lending formally yielded its position in comparison with the beginning of the year, when this segment covered 73.53% of the total portfolio.
The total loan portfolio of banks was 16 billion 285 million against 14 billion 989.8 million manat as of January 1, 2014.
On July 1, banks' assets reached 22,569.8 million AZN versus 20,385.1 million AZN on January 1, 2014 and 16,530.4 million AZN by January 1, 2013. - 17D-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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