Transit Cargo Transportation on "Silk Road" Down
From January to September, on the territory of Azerbaijan was forwarded 11,368,000 tons of goods in transit. 10,661,400 of them or 93.7% accounted for goods transported by the Azerbaijan section of Corridor Trans Europe-Caucasus-Asia (TRACECA).
Transit of goods along the TRACECA corridor decreased compared to the same period in 2011 by 2.5%, the State Statistics Committee told Turan.
Transportation in this corridor by rail amounted to 5.1 million tons (-3.8%), on the Caspian Sea - 5.56 million tons (-1.3%).
Only to local traffic on the corridor freight traffic was 37.7 million tons, which is 6% higher than in the first eight months of 2011.
According to the committee, cargo rescued from the activities of the corridor TRACECA 284,8 million manat, which is 20.5% more than in the same period of 2011. - 08D-
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- Question-answer
- 30 October 2012 16:22
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- Economics
- 30 October 2012 16:46
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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