Turnover of money transfers in the banking system of Azerbaijan made in January-June 2013 the equivalent of AZN 929 million ($ 1,184 million). Compared with the corresponding period last year it is 145 million or 18.5% more. The volume of revenue is 2.6 times higher than the sum of shipments, which in turn decreased by 4.1% compared to the same period last year.
In June, turnover transfers made AZN 193.6 million, an increase compared with June of last year by 29.4%.
According to the Central Bank of Azerbaijan, the average amount being sent up grew from 582.3 manat in January to 834 manat in June and the amount received - from 574.8 to 604.2 manat. The number of sent remittances increased from 66,000 to 74,700, and the number of those received - from 156,300 to 217,300.
The total number of recorded remittances in the period was equal to 1,603.1 thousand, including those received - 1,139.7 thousand. - 15B -
Economics
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Food prices in Azerbaijan’s capital, Baku, increased by 5% during the first nine months of 2024, highlighting rising inflationary pressures in the domestic market, the Turan agency reported.
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Global grain prices continued their downward trajectory in August, as the FAO grain price index slipped 0.5% from July and a sharp 11.9% year-on-year decline, reflecting weakening demand and intensifying competition among major exporters. Wheat prices were particularly impacted by higher-than-anticipated production levels in Argentina and the United States, exerting additional downward pressure on the international market.
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Azerbaijan’s national air carrier, AZAL, has enhanced its international travel offerings through a new partnership with Ethiopian Airlines, providing passengers with increased connectivity and convenience for global travel, the airline announced on Monday.
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The Azerbaijan Trade Forum, held on October 7, underscored the vital role of small and medium-sized enterprises (SMEs) in enhancing the country’s non-oil exports. Jointly organized by the Small and Medium Business Development Agency (SMBDA) and the Association of Customs and Logistics Companies of Azerbaijan, and supported by Pasha Holding, the event brought together stakeholders from various sectors, including import-export, logistics, production, and customs representation.
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