Industrial production drops by 2.9% in Azerbaijan

Industrial production drops by 2.9% in Azerbaijan In January-May 2012 the volume of industrial production made AZN 15bn in Azerbaijan According to the State Statistical Committee of Azerbaijan, it is a drop of 2.9% over the same period of 2011. 77.5% of industrial production was made in extractive sphere (5.4% drop), 17.1% in processing industry (14.6% growth), 4.9% in electric power and gas sectors (+3.4%). Water supply, waste water cleaning and household waste disposal made... Read More

Azerbaijan cuts gold production

Azerbaijan cuts gold production Azerbaijan cuts gold production by 32% and overall extraction of precious metals by 40%. Azerbaijan, which started industrial production of gold since July 2009 and publication of accompanying silver production in 2010, lowered production of gold by 32.6% and silver by 50.1% for Jan–May 2012. The State Statistics Committee (SSC) informs that for the first 5 months of the year country’s extraction of precious metals amounted to 857.4 kg (262... Read More

World Bank has lowered the forecast GDP Growth in Azerbaijan

World Bank has lowered the forecast GDP Growth in Azerbaijan World Bank (WB), published a Global Economy Prospects Report. The Bank forecasts Azerbaijan’s GDP Growth by 3.1% in 2012, 3.5% in 2012, and 4.5 % in 2014. At the same time a surplus current account in Azerbaijan this year will be as expected in the WB, 24.9% of GDP next year – 21.6%, and in 2014 – only 18%. Vugar Bayramov, the chairman of the Center for Social and Economic Development (CESD), mentioned... Read More