Azerbaijan Economy in The First Three Quarters of 2013; Brief Overview

Azerbaijan Economy in The First Three Quarters of 2013; Brief Overview

CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first three quarters of year on October, 17, 2013. CESD calculations confirm that, there were growth in GDP in the indicated period, however, it does not match official figures which reported by State Statistics Committee of Azerbaijan. According to the state committee, GDP increased by 5.2% in the first three quarters of 2013, compared to the same period of previous year and reached to 37.4 billion manat ( $47,95 billion US). CESD survey and calculations show that GDP growth was 4,3 % in the indicated period.

CESD findings show that oil GDP declined by 0,2 % in the indicated period. In fact, 22.547 million tons of oil was exported via Baku-Tbilisi-Ceyhan oil pipeline over nine months of 2013. The exports dropped by 379,000 tons compared to January-September 2012, the State Oil Company of Azerbaijan (SOCAR) reported.

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