Azerbaijani oil export declined by 4.5 %

Azerbaijani oil export declined by 4.5 % Azerbaijan exported 5 million 374 thousand 87 tons oil through the Baku-Tbilisi-Ceyhan pipeline in the first four months of 2017. Meanwhile, 878 thousand 664 tons oil exported through Supsa and 489 thousand 206 tons by Novorossiyski. It means that Azerbaijan exported 6 million 741 thousand 959 tons oil in the indicated period. According to the SOCAR’s report, Azerbaijan exported 5 million 741 thousand 694... Read More

Azerbaijan Economy in the First Four Months in 2016; Brief Overview

Azerbaijan Economy in the First Four Months in 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first four months in 2016. Both independent and official reports show that GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased 4.5 % in the first quarter in 2016 since CESD calculations found out 5.3 % decline in... Read More

Azerbaijani Oil Export Declined by 23.7 % in April 2016

Azerbaijani Oil Export Declined by 23.7 % in April 2016 State Oil Company of Azerbaijan Republic (SOCAR) exported 159 599 tons of crude oil from Novorossiysk port, 176 598 tons from Supsa port, 1 112 953 tons from Ceyhan port in April 2016.Generally, 239 536 tons of crude oil was exported from Novorossiysk port, 776 198 tons from Supsa, 5 741 694 tons from Ceyhan port, 14 946 tons from Kulevi port in January-April 2016. Download Full Report Here  Read More

CESD Research Paper: The Economy of Azerbaijan in 2015: Independent View

CESD Research Paper: The Economy of Azerbaijan in 2015: Independent View In 2015, the expansion of the US economy accompanied with improved employment rates led the FED to switch to contractionary monetary policy. On the other hand, the second largest economic power-China encountered a lower long-term economic growth rate with a fall in exports, and thereby adversely affecting global economic activity. Moreover, the rapid decline of prices in global... Read More

Will Azerbaijani National Currency be re-depreciated in 2015?

Will Azerbaijani National Currency be re-depreciated in 2015? The future of the Azerbaijani national currency is the hot topic in the existing agenda. Although Central Bank of Azerbaijan (CBA) announced on April 02, 2015 that no sudden changes in the currency policy are expected since the oil prices will be likely remain at the level of $50-55 per barrel until the end of the year: “It’s unlikely that the manat, Azerbaijan’s national currency,... Read More

Falling Oil Prices and Declining of Currency Reserves

Falling Oil Prices and Declining of Currency Reserves Caused by oil price decline in the world market, Central Bank’s intervention costs have decreased since August 2014 in Azerbaijan- Center for Economic and Social Development (CESD) reports. According to the official data of Central Bank of Azerbaijan Republic (CBAR), which published on January 08 2015, decline has been observed in both total reserves and currency reserves. CESD underlines that... Read More

Azerbaijan Economy in the First Ten Months of 2014; Brief Overview

Azerbaijan Economy in the First Ten Months of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first ten months of year on November, 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 1.8 % in the first ten months of 2014 since CESD calculations... Read More

Azeri Oil Export Declined in the First Quarter of 2013

Azeri Oil Export Declined in the First Quarter of 2013 SOCAR Marketing and Economic Transactions Office exported 4,586 million tonnes of crude oil from the Ceyhan port in the first quarter of 2013. In January, the port exported 1,429, million tonnes, in February-1,743 million tonnes and in March – 1,414 million tonnes  as the SOCAR reported. Meanwhile, SOCAR exported 411,339 tonnes of oil by the Baku-Novorossiysk pipeline in the same period. Compared... Read More

Oil output declined by 2,8 million tons

Oil output declined by 2,8 million tons Azerbaijan produced 39,4 million tons in the first ten months of 2012.  Compared to the same period last year, oil production declined by 2,8 million tons, according to CESD calculations Oil output was 3,4 million tons in November, 2012.  According to official forecast, 45,0 million tons oil will be produced in 2012. Azerbaijan’s oil production was 45,4 million tons in 2011 which was  5,434 million... Read More

Economists speak about “BP issue”

Economists speak about “BP issue” After the President of the Republic of Azerbaijan criticized BP, some stakeholders have called for suing the company. For example, the Member of Parliament Vahid Ahmadov said that as a result of BP’s failure to perform adequately Azerbaijan lost $8.1 billon of dollars. Thus, the government had to react on time.” The MP also noted that this violation had to be prevented: “$ 8.1 billion should be turned to... Read More

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