Although import growth (+ 16.6%) during the 7 months of this year, its structure by commodity has not changed. This suggests that the needs of the economy and the consumer market remained stagnant, while import replacing the production of products not yet established.
The share of investment goods (machinery, appliances and equipment) accounted for over a quarter of imports. In the seven months of this year, imports of goods of this nomenclature were $ 1,583 million, up 8% over the comparable period in 2012.
12.2% increased imports of vehicles, which is mainly due to the supply in the country of new civil aircraft. The share of vehicles and their spare parts in the structure of imports in January-July 2013 with a rate of about $ 0.9 billion was 14.5%.
Food imports increased by $ 38 million, and its share in total imports remained approximately at the same level - about 10% ($ 624 million).
This year, by 40% increased wheat supplies to Azerbaijan (excluding flour). The share of wheat and wheat flour imports amounted to 3.5% (in 2012 - 2.7%). Until October of this year, the country has a mode cancellation of VAT on imports of wheat and wheat flour.
Ferrous metals market is still in a state of dependence on imports. Since the beginning of the volume of imported steel products amounted to $ 763 million. That is $ 55 million more than the year before, and $ 105 million - than in January-July 2011. - 08D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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