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

Oil GDP decreased by 3.4 % in Azerbaijan

Oil GDP decreased by 3.4 % in Azerbaijan Total GDP increased by 2.2 % thanks to non-oil growth Growth Domestic Production (GDP) reached 53.7 billion manat ($ 68.9 billion US) in the first eleven months of 2014 in Azerbaijan- State Statistics Committee reports. GDP increased by 2.2% compared to the same period of previous year. GDP per capita was 5710.7 manat ( 7 281.3 US dollars) in the indicated period. Non-oil sector increased by 6.5% compared to... Read More

Azerbaijan Economy in the First Ten Months of 2012

Azerbaijan  Economy in the First Ten Months of 2012 Volume of industrial production was AZN 28.5 billion ($ 36,5 billion) in the first 10 months of 2012 as State Statistic Committee reported. Industrial production decreased by 3,9 % in reporting period compare with the same period of 2011. 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 % right Hence, it seems... Read More

Economic growth rate was 0.7% in Azerbaijan

Economic growth rate was 0.7% in Azerbaijan In January-May, 2012, GDP production rose 0.7% to AZN 20.9 bln. State Statistical Committee says 67.9% of GDP was production, 25.9% – service spheres, 6.2% – net taxes for product and import, APAreports. The production in non-oil sector rose 10.5%, in oil-gas sector – decreased by 6.5% in comparison to a year earlier. GDP per capita made AZN 2,281.5 or $ 2,901.9. Note that, according... Read More