Has GDP Increased in Azerbaijan?

Has GDP Increased in Azerbaijan? Gross Domestic Product (GDP) was 7.1 billion manat in the first 2 months of 2015. According to the State Statistics Committee of Azerbaijan, GDP increased by 4.2% compared to the same period of previous year. However, the committee have not reported how GDP growth was calculated. The point is that GDP was 8.5 billion manat in the first 2 months of 2014 (Fore reference see, the committee’s 2014 report: http://www.stat.gov.az/rss/az/view.php?newsid=2194... Read More

Azerbaijan Economy in 2014

Azerbaijan Economy in 2014 Decline of oil price in the world market was the main character of Azerbaijan economy in 2014. As an oil exporter country, Azerbaijan might face the effects of a sharp fall in oil revenue after oil price decline in the world market. Azerbaijan is heavily dependent on oil and natural gas export revenues. In fact, 2014 was somehow successful for Azerbaijan economy since the country was able to reserve growth in the almost... Read More

Inflation comes in higher than expected

Inflation comes in higher than expected “The macroeconomic indicators are positive, and the trend will continue throughout the second half of this year,” Chairman of the Center for Economic and Social Development Vugar Bayramov told local press. “But, a look at specific sectors of the economy shows that there would be a price hike in the consumer market,” the experts said. It is expected that in August and September the prices... Read More

Macro-economic figures for the first quarter of 2014

Macro-economic figures for the first quarter of 2014 CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first quarter of year on April 14, 2014. Although, the Government of Azerbaijan (GoA) managed to keep economic growth in the reporting period, but real GDP growth is 2 times lower than the 2014 target. State Statistics Committee reported 2.5 % GDP Growth for the first quarter of 2014. According... Read More

Azerbaijan Economy in January, 2014; Brief Overview

Azerbaijan Economy in January, 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first month of year on February 20, 2014. Independent calculated data show that decline in oil production and oil export will continue in 2014, too. Meanwhile, the government reports also proof that decline in oil export continue in January, 2013. State Oil Company of Azerbaijan (SOCAR) has recently... Read More