In January-February this year through TRACECA transport corridor via Azerbaijan there was transported 1 million 172.7 thousand tons of cargo. This is by 38.7% less than in the first two months of 2015, the State Statistics Committee told Turan.
Despite the decline in traffic, transport revenues on cargo transit increased. Within two months from the transit of goods 30.7 million manats was earned that is 37.4% more than in the same period last year.
The railway transport of goods in transit earned AZN 14.8 million (+ 91%), and CJSC Azerbaijan Caspian Shipping Company earned 15.8 million manats (+ 8.8%).
According to the SSC, along TRACECA 9.5 million tons of transit cargo was transported.
The TRACECA project is funded by the European Union for the development of a transport corridor from Europe through the Black Sea, the Caucasus and the Caspian Sea with access to the Central Asian countries. -----08B
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review