In January-November of this year Azerbaijan imported 56,804 vehicles, which is 39.4% less than in the same period of 2013, according to the State Customs Committee.
Imported were 51,589 cars, 33,585 units less than in the same period last year.
Indicators dropped in the supplies of other types of vehicles. According to the Customs Committee, in January-November, Azerbaijan imported 310 buses (minus 430), 4,580 trucks (minus 2,420) and 3,252 units of special equipment (minus 447).
Experts say that the downward trend in the supply of vehicles will continue in 2015. This is the result of many economic factors and regulatory activities. For example, the Central Bank has limited the possibility of purchasing cars for bank loans, as analysis showed that borrowers cannot cope with the repayment of loans and interest rates, which reached 15-18% per annum. This leads to painful trials. The government also imposed restrictions on the import of used cars. The country has banned the import of vehicles that exceed the service life of 6 years. And this in turn led to higher prices in this segment of car market. --08B-
Economics
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On September 6, the State Oil Company of Azerbaijan (SOCAR) has announced a partnership with American oilfield services firm Halliburton to conduct research aimed at reassessing the hydrocarbon potential of the shallow-water section of the Guneşli field.
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The Food Safety Agency of the Republic of Azerbaijan (AQTA) is advancing its process of incorporating foreign high-risk food and feed production facilities into its official registry, the agency announced on Friday.
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Azerbaijan’s "Green Energy Zone" Working Group held its latest hybrid meeting to review the implementation of projects within the framework of the country's Social and Economic Development Strategy for 2022–2026, the Ministry of Energy reported on Wednesday.
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The historic city of Shusha, with its rich cultural heritage, hosted the International Day of Gastronomy on Thursday, a vibrant event organized by the State Tourism Agency, the Shusha City State Reserve, and the National Culinary Center. This event served as a bridge between various cultures and culinary traditions, showcasing the richness of the Islamic world's cuisine through the celebration of the iftar table.
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