Baku: Azerbaijan’s positive balance of trade amounted to $5.5 billion last year. In 2024, Azerbaijan’s foreign trade turnover decreased by 7% in comparison with the previous year and amounted to USD 47 billion 612.1 million. According to Azeri-Press News Agency, exports across the country decreased by 21.7% amounting to USD 26 billion 554 million, while … Read more
Baku: Azerbaijan spent $1.8 billion on car imports last year, reflecting a significant financial commitment to the automotive sector despite a reduction in the total number of vehicles brought into the country. According to Azeri-Press News Agency, 91,838 cars valued at a total of $1 billion 844 million 157 thousand were imported into Azerbaijan in … Read more
Rome: In the framework of her official visit to Italy, Speaker of the Milli Majlis (Azerbaijani Parliament) Sahiba Gafarova engaged in discussions with members of the European Union Policy Commission of the Italian Senate and the Italy-Azerbaijan Inter-Parliamentary Friendship Group. The Press and Public Relations Department of the Milli Majlis relayed this information to APA. … Read more
Baku: The volume of notes issued by the Central Bank of Azerbaijan (CBA) saw a significant decrease, shrinking by 6.5 times over the past year. According to Azeri-Press News Agency, this development comes as the CBA adjusts its monetary policy instruments in response to ongoing changes within financial markets and the liquidity position of the … Read more
Baku: Baku Steel Company CJSC (BSC) has successfully passed the audit conducted by the American Petroleum Institute (API), APA reports. This achievement marks an important milestone for BSC in its pursuit of quality and compliance in the oil and gas sectors. According to Azeri-Press News Agency, BSC has completed the certification process in accordance with … Read more
Baku: Azerbaijan’s Central Bank forecasts that stability will be ensured in the foreign exchange market this year as well. A current account surplus of USD 5.5 billion is projected for the year, as reported by APA-Economics citing the Central Bank of Azerbaijan. According to Azeri-Press News Agency, a positive balance of USD 5.5 billion was … Read more
Washington: The US Department of Homeland Security (DHS) has broadened the authority of US law enforcement agencies, allowing them to deport illegal migrants through the “expedited removal” process, bypassing a court decision, APA reports. According to Azeri-Press News Agency, this change aims to enhance national security and public safety while reducing government costs by facilitating … Read more
Baku: The Central Bank of Azerbaijan (CBA) has revealed an improved economic growth forecast for the country’s non-oil sector. The announcement was made by the Chairman of the Central Bank, Taleh Kazimov, during a press conference. According to Azeri-Press News Agency, the Central Bank has revised its economic growth forecast for the end of this … Read more
Baku: In 2025, the nominal effective exchange rate of the Azerbaijani manat will strengthen by 8.2%, Taleh Kazimov, the Chairman of the Central Bank of Azerbaijan (CBA), said during a press conference on the parameters of the interest rate corridor, APA-Economics reports. He noted that the strengthening of the manat would reduce inflation by 2.2 … Read more
