Another big decline in GDP

Another big decline in GDP Azerbaijani GDP declined by 3.9 % in the first nine months of 2016. According to the State Statistics Committee of Azerbaijan, GDP made 43.436 billion manat ($ 22.861 billion US) in the indicated period. GDP per capita for the first nine months of 2016 was 4. 512 thousand manat ($ 2.837 thousand US). The State Committee has reported that 65.7% of GDP was formed in non-oil sectors, 34.3% in oil and gas sector. The value added... Read More

New decline in oil industry and Growth in non-oil sector in Azerbaijan

New decline in oil industry and Growth in non-oil sector in Azerbaijan The State Statistics Committee of Azerbaijan reported that oil and gas industry declined by 1.7% in last 10 months of 2014 compared to the same period in previous year. Monthly decline has been observed in 2014. The highest declined was registered in January, 2014: energy sector declined 5.2 % in the first month compared to the same month of 2013. Meanwhile non-oil industry grew... Read More

Azerbaijan’s accession to the WTO: Assessing the macroeconomic consequences for the economy of Azerbaijan

Azerbaijan’s accession to the WTO: Assessing the macroeconomic consequences for the economy of Azerbaijan The paper analyzes the macroeconomic consequences for Azerbaijan’s economy in case the country joins the World Trade Organization (WTO ). Existing studies primarily draw on qualitative methods, while for this study a Computable General Equilibrium (CGE) model of the economy is calculated to simulate the consequences of WTO accession. The authors... Read More

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

Azerbaijan Economy in the First Nine Months of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first nine months of year on October, 20, 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 2.0 % in the first nine months of 2014 since CESD calculations... Read More

Azerbaijan Economy in January, 2013

Azerbaijan Economy in January, 2013 CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first month of year on February, 20, 2013. Independent calculated data show that decline in oil production and oil export will continue in 2013, too. Meanwhile, the government reports also proof that decline in oil export continue in January, 2013. State Oil Company of Azerbaijan (SOCAR) has recently reported that... Read More

Azerbaijan Economy in 2012

Azerbaijan Economy in 2012 Azerbaijan oil production started to decline rapidly since 2010. In fact, dramatic fall in oil industry continues to hamper the country’s total growth in 2012.  It was the main reason that Government of Azerbaijan (GoA) has adjusted its previous official forecast of 5.7 %  GDP growth in 2012 to 2.5 % in the second half of 2012. Thanks to affected growth in non-oil sector, the country was able to keep growth track... Read More