Economy
Azerbaijan, Turkey and Georgia Discuss Simplified Customs Procedures on Middle Corridor
The 5th meeting of the Trilateral Customs Commission was held in Goygol District. The parties signed a protocol on agreements.
Top Stories
Trump Rejects Iran's Strait of Hormuz Proposal
US President Donald Trump said he rejected an Iranian plan to resume shipping through the Strait of Hormuz.
UK Diesel Price Hits All-Time Record
The average price of diesel in the UK reached £1.9918 per litre, breaking the previous record set in June 2022.
Russia's Direct Investment in Azerbaijan Up 1.8 Times
In the first half of 2026, Russia's foreign direct investment in Azerbaijan reached $237.119 million, 1.8 times more than a year earlier. The counterflow of investment from Azerbaijan to Russia fell by 20.6%.
Unibank Secures $50 Million from FMO to Boost SME Lending
Unibank and Dutch development bank FMO have signed a four-year $50 million financing agreement. The funds will support microenterprises and SMEs, including women entrepreneurs and the agricultural sector.
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Section: Economy
Economy
UK Diesel Price Hits All-Time Record
The average price of diesel in the UK reached £1.9918 per litre, breaking the previous record set in June 2022.
Economy
Russia's Direct Investment in Azerbaijan Up 1.8 Times
In the first half of 2026, Russia's foreign direct investment in Azerbaijan reached $237.119 million, 1.8 times more than a year earlier. The counterflow of investment from Azerbaijan to Russia fell by 20.6%.
Economy
Unibank Secures $50 Million from FMO to Boost SME Lending
Unibank and Dutch development bank FMO have signed a four-year $50 million financing agreement. The funds will support microenterprises and SMEs, including women entrepreneurs and the agricultural sector.
EconomyPartner
Yelo Bank Launches 1% Discount on First Cash Loan
Yelo Bank offers new customers an additional 1% discount on the interest rate and no commission on their first cash loan.
Economy
Azerbaijan, Turkey and Georgia Discuss Simplified Customs Procedures on Middle Corridor
The 5th meeting of the Trilateral Customs Commission was held in Goygol District. The parties signed a protocol on agreements.
Economy
Oil prices: Azeri Light, Brent and WTI — September 28, 2026
Global oil and gas prices on September 28, 2026: Azerbaijan's Azeri Light grade, Brent, WTI and natural gas.
Economy
Azerbaijan currency rates — September 28, 2026
Official CBAR exchange rates to the manat: US dollar, euro, ruble, lira, pound and lari on September 28, 2026.
Economy
Oil prices: Azeri Light, Brent and WTI — September 27, 2026
Global oil and gas prices on September 27, 2026: Azerbaijan's Azeri Light grade, Brent, WTI and natural gas.
Economy
Azerbaijan currency rates — September 27, 2026
Official CBAR exchange rates to the manat: US dollar, euro, ruble, lira, pound and lari on September 27, 2026.
Economy
Investment grew by 10%: oil and gas and other sectors diverge
Oil and gas investment added 32.4%, non-oil and gas — 1.4%. Most of the money is still outside oil and gas, but the fastest growth is concentrated in it.
Economy
Azerbaijan's Deposits: Balance Growth Amid a Decline in the Foreign Currency Share
By the end of July 2026, Azerbaijan's deposit base reached 44,501.1 million manats, while the share of foreign currency deposits declined to 34.7% versus 38.2% a year earlier.
Economy
Trump Rejects Iran's Strait of Hormuz Proposal
US President Donald Trump said he rejected an Iranian plan to resume shipping through the Strait of Hormuz.
Economy
Oil prices: Azeri Light, Brent and WTI — September 26, 2026
Global oil and gas prices on September 26, 2026: Azerbaijan's Azeri Light grade, Brent, WTI and natural gas.
Economy
Azerbaijan currency rates — September 26, 2026
Official CBAR exchange rates to the manat: US dollar, euro, ruble, lira, pound and lari on September 26, 2026.
Economy
Why Utility Bills Vary Across Russian Cities
The average utility bill for a family of three in a 52 sq. m apartment is 5,500 rubles, but in Makhachkala it is 2,700, while in the Far North and Far East it reaches 10,600 rubles.
Economy
Gazprom Armenia Resumes Gas Supplies to Armenia After Repairs
Natural gas supplies from Russia to Armenia resumed on September 25 after planned repair work on the North Caucasus–Transcaucasia gas pipeline.
Economy
Azerbaijan Signs Cooperation Agreements with UkraineInvest and Microsoft
At the 2nd Azerbaijan International Investment Forum in Baku, documents on cooperation were signed with UkraineInvest and Microsoft Ireland Operations Limited.
Economy
US Sees South Caucasus Potential in Trans-Caspian Corridor
US Chargé d'Affaires ad interim in Azerbaijan Amy Carlon said Washington is prioritizing the South Caucasus and sees potential in the Trans-Caspian trade corridor for American business.
Economy
California Gasoline Hits Record Highs: Price per Liter Approaches $1.90
Average fuel prices in California rose 2.5–2.6% over the week, significantly exceeding the national average.
Economy
Azerbaijan-Oman Fund to Acquire Stake in Azer-Turk Bank
The Azerbaijan-Oman Direct Investment Fund will become a shareholder in the state-owned Azer-Turk Bank. The agreement was signed at the 2nd Azerbaijan International Investment Forum in Baku.
Economy
Azerbaijan's Banking Sector Assets Up 12.2%
As of September 1, the assets of Azerbaijani banks reached 62.5 billion manats, up 12.2% year-on-year. The loan portfolio and deposits also showed growth.
Economy
Azerbaijan's Banking Sector Profit Rises 22.65%
In January-August 2026, the net profit of Azerbaijan's banking sector reached 949.7 million manats, up 22.65% year-on-year.
Economy
Overdue Loans in Azerbaijan Up 36% Year-on-Year
As of September 1, 2026, overdue loans in Azerbaijan totaled 721.8 million manats, up 36% from a year earlier. Since the start of the year, the increase was 37.6%.
Economy
SOCAR and Comstock Resources Agree on Strategic Partnership
SOCAR President Rovshan Najaf announced a meeting with Comstock Resources leadership and the signing of a letter of intent on strategic partnership.
Economy
Azerbaijan Sees Card Growth Resume After Card-to-Card Limit
By the end of August, the country had 22,974,000 payment cards, up 0.8% from July. However, cashless transaction volume fell 8.5%.
Economy
Georgia's National Bank Bought $555.6 Million on Bmatch in August
The country's international reserves reached $8.14 billion by the end of August. For January–August, the National Bank's net currency purchases on the Bmatch platform amounted to $3.122 billion.
Economy
Oil in Azerbaijan's exports: the largest item, but not the entire export
For January–August 2026, the customs value of oil exports is 9281.9 million dollars, gas is 5710.9 million, total exports are 21815.0 million: oil is the largest item, but not the entire export.
Economy
Azerbaijan's Mortgage and Credit Guarantee Fund cuts lending by 13.7%
In January–August 2024, Azerbaijan's Mortgage and Credit Guarantee Fund issued 262.9 million manats in loans, down 13.7% year-on-year. Refinanced loan volumes also declined.
Economy
Oil prices: Azeri Light, Brent and WTI — September 25, 2026
Global oil and gas prices on September 25, 2026: Azerbaijan's Azeri Light grade, Brent, WTI and natural gas.
Economy
Azerbaijan currency rates — September 25, 2026
Official CBAR exchange rates to the manat: US dollar, euro, ruble, lira, pound and lari on September 25, 2026.
Economy
Deposit Dollarization in Azerbaijan: Share Declines Against a Growing Base
At the end of July 2026, the share of foreign currency deposits was 34.715% with a total base of 44,501.149 million manats: the structure of the stock shifted, but the cause cannot be derived from these data.
Economy
Gas and oil: export value in different units of measurement
For January–August 2026, gas exports brought 5.71 billion dollars, oil exports — 9.28 billion. We break down what this means for business.
Economy
Second Azerbaijan International Investment Forum kicks off in Baku on September 25
The forum will take place on September 25–26 under the patronage of President Ilham Aliyev. It is organized by the Ministry of Economy and AZPROMO. Documents are expected to be signed across several sectors.
Economy
Azerbaijan's Cabinet Approves 2027 Budget Drafts
Azerbaijan's government has approved the draft state and consolidated budgets for 2027, as well as consolidated budget targets for the following three years.
Economy
AzerGold to Launch Two Gold Projects in Azerbaijan
The Soyudlu and Ortakend projects will add about 1.28 million ounces of gold reserves. Launch is planned for 2028 and 2029.
Economy
Saudi Aramco Plans to Restore Oil Refining Within Days
Saudi Aramco CEO Amin Nasser announced plans to restore interrupted refining operations within days and create alternative export routes.
Economy
Azerbaijan's Insurance Market Grows 6.4% in Eight Months
In January-August 2026, Azerbaijani insurance companies collected 1.116 billion manats in premiums, with payouts rising 28.1%.
Economy
Aliyev Meets 01.AI and Sinovation Ventures Head Kai-Fu Lee
Azerbaijan's President Ilham Aliyev discussed AI applications and investments with Kai-Fu Lee and a TEHA Group representative ahead of the Second Azerbaijan International Investment Forum.
EconomyPartner
Birbank Launches Loan Campaign for Education Workers
The country's first digital bank, Birbank, has launched a special campaign for education workers. Under the campaign, which will run until 31 October 2026, they can take out a cash loan with a discount of up to 7%.
Economy
Surety Marine Assesses Insurance Opportunities on the Middle Corridor
International insurance company Surety Marine is evaluating opportunities to cooperate with Azerbaijani insurers, brokers and logistics operators on the Middle Corridor. Company head Kirill Patyrykin noted a sharp rise in war risk rates — from 0.1–0.2% to more than 20% per year.
Economy
Oil prices: Azeri Light, Brent and WTI — September 24, 2026
Global oil and gas prices on September 24, 2026: Azerbaijan's Azeri Light grade, Brent, WTI and natural gas.
Economy
Azerbaijan currency rates — September 24, 2026
Official CBAR exchange rates to the manat: US dollar, euro, ruble, lira, pound and lari on September 24, 2026.
Economy
Surplus on Two Positions: What Azerbaijan's Customs Total Shows
For January–August 2026, Azerbaijan's positive foreign trade balance rests on two commodity positions, each of which is comparable in magnitude to total imports.
Economy
Azerbaijan Raises Export Duty on Screws, Bolts and Nuts
Azerbaijan's Cabinet of Ministers has increased the customs duty on exports of screws, bolts and nuts from $15 to $300 per tonne by the end of 2029.
Economy
BİM Establishes Dost Participation Bank with 10 Billion Lira Capital
Turkish retailer BİM has completed the establishment of Dost Katılım Bankası A.Ş. with a registered capital of 10 billion Turkish lira and has applied to the BDDK for an operating license.
Economy
Oil and Gas in Exports: Two Lines, Two Dimensions
For January–August 2026, customs valued oil exports at 9281.9 million dollars and gas at 5710.9 million, with total exports of 21815.04 million US dollars.
Economy
Mastercard: Baku Race Nearly Tripled Tourist Spending on Dining
A Mastercard Economics Institute analysis shows that a major international racing event in Baku in 2025 significantly boosted foreign visitors' spending on dining and retail.
Economy
CBA 28-day note yield rose to 6.56% with sterilization volume of 1,802.5 million manats
The auction on September 16, 2026 gave 6.56% versus 6.26% a week earlier and 5.63% at the end of July — the price of short liquidity in manats is again higher than in mid-summer.
Economy
Azerbaijan's Cash Currency Demand Exceeds Supply by $673 Million
The Central Bank of Azerbaijan reported that in January-August 2026, cash foreign currency purchases exceeded sales by $673 million. The regulator's foreign exchange reserves grew by 32.9% to $15.3 billion.
Economy
Azerbaijan's Remittance Balance Up 74.1%
In January–August 2026, Azerbaijan's remittance balance reached $751 million, up 74.1% year-on-year. The Central Bank of Azerbaijan (CBA) may raise its current account surplus forecast.
Economy
Azerbaijan's Central Bank Moves Rate Decision to October 29
Azerbaijan's Central Bank will announce its interest rate corridor decision on October 29 instead of November 4. The press conference has also been rescheduled.
Economy
Azerbaijan's Central Bank Keeps Policy Rate at 6.5%
The Central Bank of Azerbaijan left its policy rate unchanged at 6.5%, lowering the lower bound of the interest rate corridor to 5% while keeping the upper bound at 7.5%.
Economy
Aliyev Approves State Program for Metallurgy Development for 2027-2030
President of Azerbaijan Ilham Aliyev signed a decree approving the State Program for the Development of the Mining and Metallurgical Industry for 2027-2030.
Economy
ADB cuts Azerbaijan's 2026 GDP growth forecast to 1.6%
The Asian Development Bank lowered its forecast for Azerbaijan's economic growth in 2026 from 2% to 1.6%, keeping its 2027 estimate at 1.8%.
Economy
Oil prices: Azeri Light, Brent and WTI — September 23, 2026
Global oil and gas prices on September 23, 2026: Azerbaijan's Azeri Light grade, Brent, WTI and natural gas.
Economy
Azerbaijan currency rates — September 23, 2026
Official CBAR exchange rates to the manat: US dollar, euro, ruble, lira, pound and lari on September 23, 2026.
Economy
Non-oil and gas industry is growing faster than the entire non-oil economy
Industrial output added 5.4%, non-oil and gas GDP — 2.1%, investment — 1.4%. Why three positive indicators do not mean an equally broad upturn.
Economy
Central Bank Plans to Open Digital Ruble Accounts for Teenagers from Age 14
Digital ruble accounts are currently available to citizens aged 18 and over. The regulator is working to expand the age category to teenagers aged 14 to 18.
Economy
IRGC Says Fighting Continues in Strait of Hormuz
Iran's Islamic Revolutionary Guard Corps says battles between US and Iranian forces in the Strait of Hormuz are ongoing and the strait remains closed.
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