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

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

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

Decline in Azerbaijan’s Industrial Production Linked to Downward Trend in its Oil Sector

Decline in Azerbaijan’s Industrial Production Linked to Downward Trend in its Oil Sector Azerbaijan industrial production dropped to 3,0 billion manat ($ 3,84 billion) in January 2013, according to data released by the State Statistic Committee of Azerbaijan. Compared to this time last year, industrial production has declined 2,0%, down from 3,06 billion manat ($ 3,92 billion) in industrial products registered in January 2012. According to the State... Read More

Trend of Decline in Azeri Oil Export

Trend of Decline in Azeri Oil Export CESD Forecasts decline in oil output by 5,0 % in 2013 Azeri oil export declined by 15.3% in January 2013 compared with the previous month according to State Oil Company of Azerbaijan (SOCAR). The company reports that it exported 1.67 million tons in January 2013 (compared to 1.976 million tons in December). Last year’s highest export occurred in July (2.36 million tons). In January 2013, 2,629 tons of oil was... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More