Azerbaijan Economy in the First Half of 2014; Brief Overview

Azerbaijan Economy in the First Half of 2014; Brief Overview

CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first half of year on July, 15, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 3.9 % in the first four months of 2014 since CESD calculations found out 4.8 % decline in the oil sector.

Because of decline in oil sector, industry output decreased by 2.4 % in the indicated period according to the State Statistic Committee. Meanwhile, total GDP increased by 2.1 % according to the state reports primarily as a consequence of growth in non-oil sector. The State Committee reported 7.0 % growth in non-oil sector the indicated period. Meanwhile, oil output declined in the indicated period. According to State Statistic Committee, oil production in Azerbaijan declined by 5.4% in June, 2014 compared to previous month.

Download Full Azerbaijan_Economy_Half_2014 Report Here

Leave A Comment