Insurance sector assets grew more than by 20% in 2022

The assets of the insurance sector of Azerbaijan amounted to AZN 1.59 bn at the end of 2022 (20.3% more than at the end of 2021)

PM: Water use assessments are underway

New members approved at Depository Centre Supervisory Board

The new composition of the Supervisory Board of the National Depository Center has been formed.

Gas extraction in Azerbaijan has increased

Over Jan-Feb 2023, gas production in Azerbaijan increased by 4% (versus Jan-Feb 2022) up to 8 bn cu m,

Taxpayer rate in Azerbaijan has increased

As of 1 March 2023, Azerbaijan numbered 1,420,834 active taxpayers (5.1% more than on 1 March 2022)

Industrial production in eurozone has increased

Industrial production in the eurozone increased by 0.7% in January compared to the previous month. The expected growth was 0.3%.

Will there be any reduction in customs tariffs?

The unification of tariffs along the Trans-Caspian International Middle Corridor "East-West" is jointly considered by the relevant bodies located along the corridor.

Inflation in Argentina exceeds 100%

The price increase in Argentina in February made up 6.6%, over the past 12 months inflation has exceeded 100%.

AzerGold's revenue from sales increased in 2022

In 2022, there was a positive trend in the volume of gold and silver sales of AzerGold CJSC in the international and domestic markets.

Procedures improved for obtaining permits for operation of construction facilities

A plant with investment value of AZN 3 million opens in Azerbaijan

Holcim OJSC (Azerbaijan) has been registered as a new resident of industrial park “Araz Valley Economic Zone”, which is under the jurisdiction of the Economic Zone Development Agency (under the Ministry of Economy).

Processing sector observed decline for past 2 months

A decrease was also observed in the processing sector of Azerbaijan for Jan-Feb 2023.

Azerbaijan’s industrial production has reduced

The industrial enterprises and individual entrepreneurs operating in this field manufactured products for AZN 12.7 bn ($7.47 bn) for Jan-Feb 2023 (2.8% versus Jan-Feb 2022)

Azerbaijan's GDP grew by 0.4% for Jan-Feb

Over the past 2 months Azerbaijan produced GDP worth AZN 19.8 bn ($11.65 bn), or 0.4% more versus Jan-Feb 2022, ABC.AZ reports, referring to the State Statistics Committee.

Double taxation between Azerbaijan and Japan abolished

Double taxation will be abolished in respect of income taxes between Azerbaijan and Japan.

A copper ore zone discovered in Gedabek district

A new non-resident registered in Aghdam Industrial Park

Foreign investments in Georgian economy grew by 61%

Foreign direct investments in the Georgian economy last year amounted to $2 bn (61.1% more than last year), ABC.AZ reports with reference to the National Statistical Service of Georgia.

By 2050, water reserves in Azerbaijan to be reduced by 15-20%

Unfortunately, climate change has not spared Azerbaijan either.

There are 25 bn cu m of water resources in Azerbaijan

Amelioration & Water Management OJSC distributes 94.5% of the available water resources in the country.

Authorized capital of Garadagh Glass Factory published

The authorized capital of the Garadagh Glass Factory is set at the level of AZN 35.95 million.