Azerbaijan Economy in 2011

Azerbaijan Economy in 2011

Government of Azerbaijan (GoA) failed to achieve economic growth forecast for 2011. According to the State Statistic Committee Gross Domestic Product  (GDP) increased by 0.1 % and reached to 50.10 billion manat ($ 64,23 billion) in 2011 although th GoA projected 3,8 % growth for last year.  The State Committee reported that GDP per capita without PPP was 5530.6 manat ($ 7003, 4) in 2011.  According to State Committee inflation rate was 7,9 % in 2011 which officially projected only 5,0 %. State Statistic Committee reported that oil GDP decreased by 9.3 % decreased meanwhile GDP increased by 9.4 % in non-oil sector. At the same time, Azerbaijan’s overall export of oil products dropped by 21.6% in 2011.  According to the State Committee, production in Industry field decreased by 5.0 % in 2011 compared to 2010…Download Full Report Here

 

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