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

World Bank has lowered the forecast GDP Growth in Azerbaijan

World Bank has lowered the forecast GDP Growth in Azerbaijan World Bank (WB), published a Global Economy Prospects Report. The Bank forecasts Azerbaijan’s GDP Growth by 3.1% in 2012, 3.5% in 2012, and 4.5 % in 2014. At the same time a surplus current account in Azerbaijan this year will be as expected in the WB, 24.9% of GDP next year – 21.6%, and in 2014 – only 18%. Vugar Bayramov, the chairman of the Center for Social and Economic... Read More

Azerbaijan Economy Since Independence; Independent View

Azerbaijan Economy Since Independence; Independent View Azerbaijan Economy Since Independence; Independent View The CESD report analyzes Azerbaijan Economy since independence which has been through economic crisis, stability, and rapid development. All these steps taken toward development have been remembered ever since for both their uniqueness as well as their conformity to economic realities: firstly, the recession (1992-1995) recovery (1996-1997),... Read More

Azerbaijan Economy in the first eleven months of 2011

Azerbaijan Economy in the first eleven months of 2011 The State Statistic Committee reported that Gross Domestic Product  (GDP) increased 0,2 % in last eleven months of 2011 and reached to 45.5 billion manat ($ 58,3 billion). 54.9 % of value added produced in industry, 7.8 % – construction complex, 5.6% – agriculture, hunting and forestry, 5.2 % – transport, 7.9 % – trade and paid services, 1.7 % – communication, 11.0%... Read More