In the first half of 2016 prices for cargo transit in the transport sector of Azerbaijan increased 34.7% in the local currency in comparison with last year. Experts attribute the rise in prices in manats for the transit of goods to almost double devaluation of the manat in 2015.
Sources in the State Statistics Committee said the rise in prices of transportation was observed in June, amounting to at least 0.4%.
Oil and gas pipelines’ transportation costs increased 0.2% and 0.7%. At 0.7% increased the cost of international transportation, both by air and by rail. Transportation of goods by water transport rose in price by 0.6% and transportation by vehicles - by 0.2%.
The State Statistical Committee says that the price of transportation in the country remained unchanged. -0-
Economics
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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