ECONOMY

NEWS

Traffic restricted on another street in Baku

— ECONOMY
Repair work is being carried out on Ilqar Musayev street in the Gunashli settlement of Surakhani district.elchi reports, citing the State Agency of Azerbaijan Automobile Roads, that the repair work covers the section of Ilqar Musayev street from its intersection with Etibar Bekirov street to its intersection with Surkhay Nochuiev street.Traffic will be restricted in […]
NEWS

Gold price exceeds $4,200 in commodity markets

— ECONOMY
The value of gold futures per troy ounce has increased in commodity markets. elchi reports, citing exchange data, that the value of December 2026 futures for one troy ounce of gold on the New York “COMEX” commodity exchange increased by 1.13% to $4,204 US dollars. On “COMEX”, the price of December 2026 futures for one […]
NEWS

Record Inflows into Gold-Backed Funds

— ECONOMY
Global physically gold-backed exchange-traded funds (ETFs) saw inflows of US$10 billion in September. elchi reports, citing a World Gold Council (WGC) report published on October 7. According to the information, gold ETF inflows were recorded in all regions in September. The largest inflows were in funds listed in Europe and North America. Thus, in the […]
NEWS

“Fitch Solutions”: Economic growth in Azerbaijan to reach 3% next year

— ECONOMY
“Fitch Solutions” company’s BMI research division forecasts economic growth in Azerbaijan to be 2.5% in 2026 and 3% in 2027. elchi reports that this was stated in the company’s report on Azerbaijan. According to the report, Azerbaijan’s economy is estimated to have grown by 1.4% in 2025. Thus, BMI expects economic growth to be 1.1 […]
NEWS

IEA members to accelerate release of emergency oil reserves to market

— ECONOMY
Governments of the International Energy Agency (IEA) member countries have supported accelerating the release of emergency oil reserves (400 million barrels – ed.) announced within the Joint Action Framework adopted in March, as quickly as possible. elchi reports that IEA Executive Director Fatih Birol stated this in a statement regarding the meeting held with the […]
NEWS

Oil prices rise in global markets

— ECONOMY
During trading operations on the ICE London intercontinental exchange, the value of the December 2026 contract for the export of “Brent” oil increased by 2.22% to 102.42 US dollars per barrel. According to elchi, the price of 1 barrel of “WTI” crude oil for export in November 2026 on the New York “NYMEX” commodity exchange […]
NEWS

“Yandex” Search Engine’s Share in Azerbaijan Decreased 8-Fold

— ECONOMY, NEWS FEED
In September of this year, Google’s search engine market share in Azerbaijan across all platforms (computers, mobile devices, and tablets) constituted 97.35%. According to a report by the “Statcounter” agency, cited by “Elchi”, this figure remained unchanged compared to August, but is 14.44 percentage points higher than in September 2025. The market share of “Yandex”, […]
NEWS

ADY’s freight transportation increased by 11% to 14 million tons

— ECONOMY
“Azerbaijan Railways” CJSC (ADY) transported 13 million 882 thousand 84 tons (about 14 million tons) of cargo in January-September 2026. This is 11% more than in the same period last year. This was reported to elchi by ADY. According to the information, the volume of transit transportation increased by 15% to 5.7 million tons during […]
NEWS

EIA: Oil production in Azerbaijan to reach 550,000 barrels per day this year

— ECONOMY, NEWS FEED
The U.S. Energy Information Administration (EIA) has not changed its forecast for daily oil production in Azerbaijan for 2026. elchi reports that this was stated in the EIA’s October “Short-Term Energy Outlook” report. According to the EIA’s updated data, oil production in Azerbaijan will reach 550,000 barrels per day this year. Last month, this figure […]