Population of Azerbaijan acquired in January-June consumer goods worth AZN 10 billion 84.2 million (+8.9% per year).
According to the State Statistics Committee, the share of food in domestic trade turnover amounted to 50.8% (5 billion 122.3 million or +2.8% per year), while the rest was non-food products (15.5%).
SSC has estimated that in the first half of the year money services rendered to the population totaled 2 billion 982.5 million (+6.9% per year). About three-quarters of services (74.9%) were legal persons (+5.6%). Individuals are actually removed from the process because of the lack of material and technical capabilities, as well as artificial obstacles officials and tax authorities. - 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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