Azerbaijan Economy in The First Four Months in 2013; Brief Overview
Posted by Administrator on Tuesday, May 21, 2013 · Leave a Comment
Azerbaijan Economy in The First Four Months in 2013; Brief Overview
CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first four months of year on May, 17, 2013. Independent calculated data show that decline in oil production and oil export was continued in the first four months of 2013. Meanwhile, the government reports also proof that decline in oil export continue in the same period of 2013. State Oil Company of Azerbaijan (SOCAR) has recently reported that Azeri oil export declined by 3, 4 % in the first four months of 2013 compared with the previous period in 2012.
Meanwhile, State Statistic Committee reported that oil GDP decreased by 4,0 % in the first four months of 2013. In fact, ahead of a more pronounced decline in oil production, Azerbaijan’s gross domestic product (GDP) growth appears to be slowing from its recent heady pace. Macro-economic results of the first four months of 2013 proof that lower oil production will slow down Azerbaijan’s economy in 2013 but the downturn will be offset by expansion in the non-hydrocarbon sector because of high public spending…
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