Transit traffic declined sharply
The volume of transit freight transport corridor TRACECA on the territory of Azerbaijan for two months this year amounted to 1,925,600 tons. This is 32.5% less than in the comparable period of 2013.
According to the State Statistics Committee, transportation decreased mainly by rail. Trains of Azerbaijan Railways (ARD) transported in January-February 696 800 tons of cargo , which is 48.2 % less than in the same period last year.
The head of the Department of Freight Transportation of ARD, Panah Karimov refused to comment on the reasons for the reduction in the transport corridor Silk Road.
Reduction in the income of the carriers was caused by a drop in the transportation volume. In the 2 months in 2014 the railroad and JSC Azerbaijan Shipping Company earned from the transit 20.3 million manat. The revenues fell at an annualized rate of 24.1 %. -08D-
-
- Want to say
- 22 April 2014 16:46
Economics
-
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.
-
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.
-
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.
-
"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.
Leave a review