Azerbaijan economy

Topics: Petroleum, Russia, Petroleum industry Pages: 4 (1034 words) Published: October 22, 2013
Azərbaycan Respublikası Təhsil Nazirliyi
Azərbaycan Dövlət İqtisadiyyat universiteti

Sərbəst iş

İxtisas: Kommersiya
Kurs: 1 Qrup: 928
Fakültə: Kommersiya
Kafedra: Economy English
Fənn: English
Elmi Rəhbər:


Azerbaijan economy

As Azerbaijan had been the colony of Russia for a long period, the economy of the country was formed as part of the united natural economy complex of the former USSR.  In 1919, the profits gained from oil sales and the income tax comprised the majority of this amount. The main source to form budget was income tax. The second source of budget contributions was the excise tax imposed on wine, tobacco, and especially oil products. If oil industry is not taken into consideration, Azerbaijan has been mainly an agrarian country. One of the main attributes of every country is, of course, its national currency. The national currency of Azerbaijan was put into circulation in early 1919. The first bank-notes were 25, 50, 100, and 250 manats. Though being an agrarian country in those years, Azerbaijan met the demand for strategic products by imports.  In its economic and trade relations with the foreign countries, Azerbaijan used barter, and gave petroleum for the goods and natural resources bought from abroad.  The main purchaser of Azerbaijan oil was first Russia, later the European. The increase in the oil export stimulated the development of all production sectors. In 1918-1920, ADR government took a number of measures for the restoration of economy. The administrative-territorial structure of the country was changed and finance was put in order.  In the 1920-1939, the formation process of Azerbaijan economic network continued, though slowly. The...
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