During first five months this year 1,874 million tons of oil products was delivered to Azerbaijan's local market.
According to the State Statistical Committee of Azerbaijan, deliveries to the local market increased by 13.5% against the same period last year.
From January to May 471,300 tons of petrol, 471,200 tons of diesel fuel, 203,100 tons of aviation kerosene, 152,000 tons of black oil, 55,100 tons of liquefied gas, 101,500 tons of oil bitumen and 420,000 tons of other oil products was delivered to the local market of the country.
In 2011 4,416 million tons of oil products was delivered to the local market, up 12.6% against 2010.
The growth of oil products consumption at the local market is connected with increase in number of cars and growth of oil products consumption in the industry.-0-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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