According to the Balance of Payments of Azerbaijan, in January - June, the country received $ 1.7 billion from individuals living abroad. This, according to the Central Bank of Azerbaijan, was 92.7% of the total value of transactions with foreign countries by a secondary income.
The other operations accounted for $ 100 million, or 7.3%, including 3.7% being the cost of imported humanitarian goods, and 3.6% of other income.
According to the Center for Economic Research, annual remittances from abroad are in the amount of $ 3.5 billion to $ 4 billion, which is a stable figure over the years, indicating systematic support of poor relatives. Roughly half of the money comes from Russia. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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