Azerbaijan’s manat stands strong in face of storms?

Azerbaijan’s manat stands strong in face of storms? Recently the most frequently asked question is how long manat will continue to appreciate. While at the beginning of 2016 the exchange rate of manat was 1.5610, national currency saw its value to increase to 1.4906 on the last day of May. That is to say, manat losing its value by 48% following second devaluation, was able to appreciate by 4% during last 5 months. This appreciation rate is lower relative to encountered devaluation,... Read More

Central Asia Think Tank Summit was held in Astana

Central Asia Think Tank Summit was held in Astana Dr. Vugar Bayramov, the CESD Chairman, served as one of speakers at the Central Asia Think Tank Summit in Astana, on May 26th, 2016. The summit was organized within the Astana Economic Forum. The forum is an annual event held in Astana, the capital of the Republic of Kazakhstan, which brings together representatives from the world’s economic community, current and former heads of states, Nobel Prize laureates, outstanding figures... Read More

Azerbaijan Economy in the First Four Months in 2016; Brief Overview

Azerbaijan Economy in the First Four Months in 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first four months in 2016. Both independent and official reports show that GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased 4.5 % in the first quarter in 2016 since CESD calculations found out 5.3 % decline in the economy. Because of declining... Read More

$ 144.3 Million US Deficit for 4 Months

$ 144.3 US Million Deficit for 4 Months The deficit of the foreign trade turnover of Azerbaijan totaled $ 144.3 million US in the first four months of 2016. Meanwhile, foreign trade balance had a surplus with amount of $ 867.2 US million in the same period in 2015. According to the State Statistic Committee of Azerbaijan, in January-April this year the volume of export-import operations with 152 countries comprised $ 5 billion 44 million US, a decline of 34.3%. During the reporting... Read More

National currency rate in Azerbaijan: is the stability sustainable?

National currency rate in Azerbaijan: is the stability sustainable? Plummeting oil prices since the third quarter of 2014 have shaped new market conditions for the national currency of Azerbaijan. For the first time after the global financial crisis of 2008, the national currency has encountered serious challenges. The Central Bank attempted to preserve the stability of manat exchange rate at the expense of spending currency reserves. Although intervention operations have been... Read More

CESD’s independent inflation rate was announced

CESD’s independent inflation rate was announced CESD- Center for Economic and Social Development concluded its macro-economic survey results including price collection for the April in 2016. According to the CESD price collection survey which covers the capital city and selected districts in rural Azerbaijan, annual inflation was 15.3 % in April 2016. Monthly inflation in April was 1.1 % compared to the previous month. Meanwhile, the State Statistics Committee announced that... Read More

Azerbaijani Oil Export Declined by 23.7 % in April 2016

Azerbaijani Oil Export Declined by 23.7 % in April 2016 State Oil Company of Azerbaijan Republic (SOCAR) exported 159 599 tons of crude oil from Novorossiysk port, 176 598 tons from Supsa port, 1 112 953 tons from Ceyhan port in April 2016.Generally, 239 536 tons of crude oil was exported from Novorossiysk port, 776 198 tons from Supsa, 5 741 694 tons from Ceyhan port, 14 946 tons from Kulevi port in January-April 2016. Download Full Report Here  Read More