Economy

Legalizing 500,000 Undocumented Homes Could Lower Housing Prices in Azerbaijan

By AZE.US Legalizing nearly 500,000 undocumented homes and apartments in Azerbaijan could sharply increase housing supply, generate hundreds of millions of manats for the state...

Chinese Cars Flood Azerbaijan’s Market, Buyers Risk Being Left Without Warranty

By AZE.US The rapid growth of unofficial vehicle imports from China is reshaping Azerbaijan’s car market. The vehicles are often offered below official dealership prices,...

No More Jail for Unreturned Foreign Currency: What Changes in 2027

By AZE.US Azerbaijan has decriminalized the failure to return foreign currency proceeds earned through overseas trade. Beginning January 1, 2027, business executives will no longer face...

ING Sees Azerbaijan’s Economy Growing 1.9% in 2026

By AZE.US Dutch banking group ING expects Azerbaijan’s economy to expand by 1.9% in 2026, slightly lowering its previous forecast as weak oil and gas...

Azerbaijan’s Private Sector Now Employs More People Than the State

AZE.US Azerbaijan is continuing programs aimed at creating jobs and expanding employment opportunities, with the private sector increasingly becoming the country’s largest source of formal...

Azerbaijan Requires Import Values to Be Declared in Manats

AZE.US Azerbaijan has introduced a requirement that the customs value of imported goods be declared in the national currency, the manat. The amendment to the Customs...

New Index Could Warn Azerbaijan of Food Inflation Six Weeks Early

AZE.US A new indicator developed by Central Bank of Azerbaijan researchers could identify rising food-price pressure as much as six to seven weeks before it...

Tourist Spending in Azerbaijan Falls 18% as Arrivals Decline

AZE.US Foreign visitors spent 1.554 billion manats, or approximately $914 million, in Azerbaijan during the first seven months of 2026, an 18.3% decline from the...

SOFAZ’s Stock Market Income Reaches $10.9 Billion

AZE.US The State Oil Fund of Azerbaijan, known as SOFAZ, has generated $10.9 billion in cumulative income from investments in developed-market equities, while the portfolio’s...

Baku Apartment Bought for 363,000 Manats Seized Over Former Owner’s Debt

AZE.US A Baku resident says an apartment he legally purchased for 363,000 manats ($213,500) was seized because of a private debt owed by its previous...

Baku Rents Rise 20% as Students Struggle to Find Housing

By AZE.US With the new academic year approaching, students arriving in Baku from Azerbaijan’s regions are struggling to find affordable rental housing. The market is facing...

Baku Market Prices: Tomatoes From 0.70 Manats, Meat Up to 22 Manats

By AZE.US A new video review has provided a snapshot of food prices at a market in Baku, with seasonal vegetables remaining relatively affordable while...

Azerbaijan Routes Another 989 Tons of Diesel Toward Armenia

By AZE.US A new shipment of 989 tons of diesel fuel is scheduled to move from Azerbaijan toward Armenia on September 3, further expanding the...

Azerbaijan Raises Pay for 72,212 Healthcare Workers

By AZE.US Azerbaijan has increased the salaries of 72,212 healthcare workers employed within the TƏBİB system, with the new rules taking effect on September 1. TƏBİB...

SOCAR Plans $1.65 Billion Deal for U.S. Gas Assets

AZE.US Azerbaijan’s state energy company SOCAR plans to acquire stakes in natural gas production and infrastructure assets owned by U.S.-based Comstock Resources. The proposed transaction is...

Guest Damages a Rental Property in Azerbaijan: Who Must Pay?

AZE.US A property owner in Azerbaijan may seek compensation from a guest who damages furniture, appliances or other items in a short-term rental. However, the...

Azerbaijan Ranks 105th in Global Prosperity Index

AZE.US Country trails Georgia and Armenia by more than 60 places but ranks ahead of Iran and Turkmenistan Azerbaijan ranked 105th among 161 countries in the...

Azerbaijan Employers Can Fine Workers for Tardiness – But Only Under One Condition

AZE.US Employers in Azerbaijan may not arbitrarily deduct money from an employee’s salary for arriving late. However, the law allows a disciplinary fine of up...

Azerbaijan Supplied Turkey With 5.49 Bcm of Gas in First Half

AZE.US Azerbaijan exported 5.492 billion cubic meters of natural gas to Turkey in the first half of 2026, according to data from Turkey’s Energy Market...

Israeli Developer Plans 3,500 Apartments at Sea Breeze

AZE.US Israeli real estate developer Hagag Group is preparing to enter Azerbaijan with two major residential projects at the Sea Breeze Resort on the Caspian...

Why Traditional Azerbaijani Tomatoes Are Disappearing From Markets

AZE.US Traditional Azerbaijani tomatoes, once prized for their distinctive aroma and flavor, are gradually losing ground to foreign-bred hybrids that are are cheaper, more productive...

Demand for Small Apartments Rises in Baku as Prices Start at 55,000 Manats

AZE.US Demand for small apartments is growing in Baku as rising property prices push buyers toward homes of 40-45 square meters or less. An online market...

How Will Legalizing Undocumented Homes Affect Azerbaijan’s Property Market?

AZE.US Hundreds of thousands of homes in Azerbaijan could enter the formal property market if the government moves ahead with granting legal title deeds to...

Azerbaijan’s Population Is Aging Rapidly

AZE.US Azerbaijan’s population is aging rapidly as birth rates decline and the number of people aged 65 and older continues to rise, economist Natig Jafarli...

Household Deposits in Azerbaijan Rise Nearly 16% to 17.9 Billion Manats

AZE.US Household deposits held by Azerbaijani banks rose 15.8% year over year to 17.90 billion manats, or approximately $10.53 billion, as of August 1. The banking...

Azerbaijan Property Insurance Premiums Rise 24% as Payout Ratio Falls

AZE.US Property insurance premiums collected in Azerbaijan increased sharply during the first seven months of 2026, while claims payments grew at a considerably slower pace. AZE.US...

Azerbaijan’s Land Borders Should Reopen – Jafarli

AZE.US Azerbaijan can begin gradually easing restrictions at its land borders, starting by allowing Azerbaijani citizens to return home through ground crossings, economist and politician...

When Can a Loan Guarantor’s Salary or Pension Be Garnished in Azerbaijan?

AZE.US A person in Azerbaijan can be held responsible for another borrower’s loan only if there is a valid written guarantee agreement. A verbal promise...

Gold Prices in Azerbaijan Drop by Up to 12 Manats Per Gram

AZE.US Gold prices in Azerbaijan have fallen sharply after a brief surge, with jewelers reporting unusually rapid fluctuations in both retail and scrap-gold rates. Gold of...

Azerbaijan’s Aluminum Export Revenue Jumps 39% to $165 Million

AZE.US Azerbaijan sharply increased its revenue from exports of aluminum and aluminum products during the first seven months of 2026. AZE.US reports, citing Report, that the...

Azerbaijan Urged to Legalize Undocumented Homes for 1,000 Manats

AZE.US Azerbaijan should introduce a property amnesty for tens of thousands of homes whose owners have been unable to obtain legal title for years, prominent...

Azerbaijan Eyes 170-255 Manat Europe Fares as New Wizz Air Route Nears

AZE.US A new direct Wizz Air service between Slovakia and Azerbaijan is expected to begin on Oct. 10, potentially offering round-trip tickets for about 170-255...

A 60-Square-Meter Baku Apartment Can Cost Up to 150,000 Manats

AZE.US Apartment prices in newly constructed residential buildings in Baku have reached 2,000-2,500 manats ($1,176-$1,471) per square meter, substantially increasing both the upfront and monthly...

Baku Airport Launches 20-Second Automated Passport Control

AZE.US Azerbaijani citizens can now complete passport control at Baku’s Heydar Aliyev International Airport in approximately 20 seconds using newly installed electronic gates. The State Border...

Azerbaijan Says Homes Built Over Utility Lines Cannot Be Legalized

AZE.US Azerbaijani authorities have clarified which undocumented homes may eventually qualify for registration and which properties cannot be legalized. A building is considered unauthorized if it...

Gifted Apartment Can Be Taken Back: Lawyer Explains the Legal Grounds

AZE.US A gifted apartment, house or other property may be returned if a court determines that the transfer was intended to conceal assets, avoid a...

Azerbaijan Rules Out Budget Funding for Routine Home Repairs in Liberated Territories

AZE.US Azerbaijan will not provide separate state budget funding for routine repairs to homes allocated to returning residents in the country’s liberated territories. The clarification was...

Beef Prices Rise Across Azerbaijan, Reaching 24 Manats in Baku

AZE.US Beef prices are rising again across Azerbaijan, reaching 17–18 manats ($10-$10.60) per kilogram in the regions and as much as 24 manats ($14.10) for...

OpenAI Registers for VAT in Azerbaijan: What It Means for ChatGPT Users

AZE.US OpenAI, the U.S. company behind ChatGPT, has officially registered with Azerbaijan’s tax authorities. The State Tax Service has also registered U.S.-based Zoom Communications and Netherlands-based...

Azerbaijan-Russia Trade Plunges 31% as Russian Imports Collapse

AZE.US Trade between Azerbaijan and Russia fell sharply in the first seven months of 2026, driven by a 42% decline in Russian exports to the...

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