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

Azerbaijan Economy in the first quarter of 2012

Azerbaijan Economy in the first quarter of 2012 Decline wave in production sector keep on the first quarter of 2012 in spite of the fact that Government of Azerbaijan has been trying to attain expansion in above mentioned sector.  Considering keeping still high portion of oil sector in total GDP, decline in oil sector noticeably reduce economic growth rate in Azerbaijan. Oil sector is still dominant in both GDP and budget revenues based on the results... Read More