Industry
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Azerbaijan’s petroleum products market is undergoing a quiet but significant transition. Behind the stability of state-regulated fuel prices lies a more complex reality: declining oil production, rising demand for higher-quality fuels, and a refining system that still struggles to keep pace with shifting consumption patterns.
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Azerbaijan’s information and communication technology (ICT) sector expanded faster than the overall economy in the first quarter of 2026, driven by a sharp increase in investment and steady growth in digital services, according to official data and analyst estimates.
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Azerbaijan’s industrial sector showed only marginal growth in the first quarter of 2026, underscoring deeper structural constraints that continue to limit the country’s long-term economic transformation.
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Over the past decade, Azerbaijan has become one of the countries in the region that stands out in the high-technology sector, particularly in the space industry. The space policy, initiated by a decree signed by President Ilham Aliyev in 2008, has produced institutional, technological, and economic results in a relatively short period of time. Within this framework, Azercosmos has evolved into not only a provider of national security and communication infrastructure but also an export-oriented service sector entity.
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