Assessment on Real Effective Exchange Rate in Azerbaijan: 2017 Outlook

Assessment on Real Effective Exchange Rate in Azerbaijan: 2017 Outlook The implementation of fixed exchange rate regime for 20 years (1994-2014) resulted in a formation of an insecure currency position for all interest groups, including the government and business. Although the pressures on manat have commenced to increase since the second half of 2014, the Central Bank and the government failed in comprehending the process. That is why, promising... Read More

Azerbaijani Oil Income in September 2016

Azerbaijani Oil Income in September 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that oil export fell by 9.4% in September 2016 compared with the previous month. The SOCAR reports that it exported 1.386 million tons of oil against 1.53 million tons in August and 1.924 million tons in July (this year’s best indicator). September’s oil export via Baku-Novorossiysk oil pipeline reached 169,279 tons (versus 169,702 tons in August... Read More

$ 1,5 billion Sterilization in Azerbaijan

$ 1,5 billion Sterilization in Azerbaijan “The Central Bank of Azerbaijan (CBA) has been keeping regulatory monetary policy to intervene in the market in order to keep the exchange rate of manat, national currency, for more than the decade.  CBA held currency sterilization in the amount of USD 1,584 billion in 2012 and manat against USD consolidated by 0.19%. The stability of the manat monthly cost of 135 million dollars. In this regard, the crucial... Read More

Oil keeps dominant position in Azeri export as 92% of total export

Oil keeps dominant position in Azeri export as 92% of total export Oil and oil products made 92,0 % of Azerbaijan’s export by results of January-February 2012. According to sources in the State Customs Committee, in the reporting period, crude oil made 86,0 % of Azerbaijan’s export and oil products made 6,0 %. According to the State Committee reports, oil and oil products made 92,0 % of Azerbaijan’s export in 2011, too. “Only 8... Read More

Oil Dominate in Azerbaijani Export

Oil Dominate in Azerbaijani Export Oil and oil products constituted 94 % of Azerbaijan’s export in 2011 according to CESD sources.  Only 6 % of export was non-oil products. CESD concerned over Azeri export’s reliance on oil revenue since oil continued to dominate in Azerbaijan’s exports accounting for 94 0% of all exports as of October 01 despite efforts to diversify Azerbaijan’s economy away from oil. Last year Azerbaijan’s foreign trade... Read More