Through LLC Azerpoct (national postal operator of Azerbaijan) from January to July 800,031 remittances were carried out (+ 4% compared to the same period last year). As stated in the LLC, payment was made on 751,850 documents.
As of July 1, the leader of postal operations of this kind was the international system Golden Crown - the post offices Azerpoct passed 91,268 remittances with a total turnover of 34.867 million manat by this system. The Russian rubles turnover of accepted and paid transfers totaled RUR 1,027,804,060, in dollars - $ 32,037,468, in euros - EUR 239 903. The summary profit of the LLC from the turnover of these funds amounted to 805,000 manat.
In the second place there is the volume of money transfers via WesternUnion - 1,152,065 manat by 1 July at the commission income of 18 317 manat. The volume of money transfers via Contact in the reporting period amounted to 836,062 manat, and the commission income was 4,410 manat.
The state enterprise Azerpoct was created on September 23, 1999, and on August 15, 2009 it was converted into LLC Azerpoct. On April 16, 2010 the Central Bank of Azerbaijan issued it a limited license for the provision of banking and financial services. -17D-
Economics
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For several months now, there have reportedly been delays in the disbursement of pensions and social payments in Azerbaijan. Pensioners say that the delays range from three to five days. For example, they emphasize that while disability pensions used to be paid by the 15th of each month earlier in the year, for the past three months, payments have been made on the 20th or 21st.
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Azerbaijan's revenues from tobacco exports have skyrocketed, with earnings from the first eight months of 2024 reaching $15.6 million, a nearly fivefold increase from $3.2 million during the same period last year. The sharp rise highlights the expanding international demand for Azerbaijan's tobacco products.
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Azerbaijan imported 11,100 tons of tea worth $57.9 million in the first nine months of this year, according to the State Statistics Committee, marking a 14.4% rise in volume and a 13.9% increase in value compared to the same period in 2023. However, with only 500 tons of tea exports totaling $4.8 million, Azerbaijan remains heavily dependent on imported tea, which meets 98% of domestic demand.
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Azerbaijan significantly increased its rice imports to 52,500 tons in the first nine months of 2024, marking a 15.1% rise in physical weight and a 33.3% rise in import value compared to the same period in 2023, according to government data. The average price per ton of rice climbed by 15.8% to $1,042.17, up from $899.77 last year, further underscoring Azerbaijan’s reliance on imports to meet domestic demand, with 85% of the country’s rice needs covered through foreign sources.
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