GDP Increased, Industry Declined in Azerbaijan

GDP Increased, Industry Declined in Azerbaijan Gross Domestic Product (GDP) increased by 2.4 % in the first 8 months of 2014, compared to the same period of 2013 and reached to 39.2 billion manat ($ 50.3 billion US)- as State Statistic Committee of Azerbaijan reports. 45.0% of GDP were produced in the fields of industry, 11.8% in construction complex and 9.9% in the fields of trade and paid service, 4.9% in transport, 1.7% in information and communication... Read More

80.0 % of SOFAZ’s total revenue was spent in the half of 2014

80.0 % of SOFAZ’s total revenue was spent in the half of 2014 Total revenue of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was 6.493 billion manat ($ 8.324 billion US) in the half of 2014. SOFAZ’s total spending was 5.163 billion manat ($ 6.619 billion US) in the reporting period. According to the official figures 79.5 % of the SOFAZ revenues was already spent in the first six months of 2014. Revenue of 6.374.8 mln. manat was received... Read More

World Top Mass-Media Institutions Cite CESD Reports

World Top Mass-Media Institutions Cite CESD Reports Some leading world newspapers have recently distributed article on Azerbaijan economy which titled as “Loose fiscal policy could threaten Azeri economy” where roughly cited CESD reports.  The article addresses CESD reports and macro-economic calculations as the main alternative and independent source in the country. Azerbaijan economy was discussed in the report based on both State Statistic... 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