The number of outstanding active cards of Azerbaijani banks increased in July 2013 to 74,000, reaching 5375. The annual growth was 11.8 %.
In January -July cardholders carried 37.139 million transactions totaling 5645 million manat. With the growth of the total number of transactions by 15.5 % in volume and by 15.6 % compared to the same period in 2012 , the number of credit card transactions increased by 2.3-fold to 4.816 million , while their turnover - 59.5 % to 895 million manat.
The main part of card transactions in the period of the year still fell on ATMs - 29,385,000 transactions amounting to 4721 million manat. Of these, 98.7 % for operations related to the withdrawal of cash.
Service of the cards was produced by 2,368 ATMs and 36,388 POS- terminals. During the year the number of first increased by 7.9 %, while the second number decreased by 0.4 %.
As of August 1, 2013 in Baku there were installed 1,336 ATMs and 32,470 POS- terminals. In objects of service operates 35 003 POS- terminals, including in Baku - 31 658 POS- terminals. - 15V -
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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