Azerbaijan Economy in January, 2013

Azerbaijan Economy in January, 2013

CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first month of year on February, 20, 2013. Independent calculated data show that decline in oil production and oil export will continue in 2013, too. Meanwhile, the government reports also proof that decline in oil export continue in January, 2013. State Oil Company of Azerbaijan (SOCAR) has recently reported that Azeri oil export declined by 15.3% in January 2013 compared with the previous month. The company reports that it exported 1.67 million tons in January 2013 (compared to 1.976 million tons in December).  Although the Government of Azerbaijan (GoA) forecasted growth in oil sector, CESD does not share this optimism, which projects an output of 44,0 million tons of oil in 2013, even though decline in this sector was already registered in the first months of year.

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