From January to August, the majority (70.3%) of the proceeds of the population of Azerbaijan was aimed at the acquisition of goods and services. In absolute terms, this amounted to 14 billion 776 million 600 thousand of the 21.02 billion AZN collectively earned, the State Statistics Committee said.
The payment of taxes, duties, social and insurance fees by the population was spent 9.1% (1 billion 912.7 million AZN). Income 2 times more (18% or 3 billion 783,500,000 manat) was allocated to the accumulation of and purchase of freely convertible currency.
While the population spent 462.3 million AZN on the payment of interest on loans by July 1, by August 1 the figure was 546.5 million manat. -17D-
Economics
-
The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
-
Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
-
The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
-
In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
Leave a review