Azerbaijan - Arkas Logistics

Azerbaijan is located in the Caucasus region at the intersection of Western Asia and Eastern Europe. The country, whose capital is Baku, has a thriving economy with rich oil and natural gas deposits.

Surrounded by the Caspian Sea to the east, the country has made great progress in tourism in recent years with its promotional offensive. The capital Baku, which hosts international organizations, is the largest and most developed city of the country.

In the economy of Azerbaijan, a significant part of the industrial sector consists of heavy industry, which was established about 20 years ago. The most important sectors within the heavy industry are iron, aluminum and cement, many of which have been neglected after the development of the oil industry. For the revival of the country's industry, 2014 was declared the "industrial year" in Azerbaijan. Despite the rapid decline in real industrial production, the construction sector has grown rapidly in recent years due to housing construction, rural infrastructure works and improvement of transportation infrastructure.

The service sector has also grown rapidly due to the developments in the fields of transportation and communication. Banking is managed by two state banks, which account for more than half of the presence in the sector.

Azerbaijan is a developing economy with oil and gas sector. Oil and gas accounts for more than 90% of Azerbaijan's exports. Diversification efforts remain slow. Despite the increase in investments made in non-oil areas, business sectors other than the energy sector are still quite weak in the country.