Azerbaijan Economy in the first two months of 2017; Brief Overview

Azerbaijan Economy in the first two months of 2017; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first two months of 2017. Both independent and official reports show that GDP slightly increased in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP increased by 0.4 % in the first two months of 2017 compared with the period of 2016 since CESD calculations... Read More

Azerbaijani oil export declined by 7 %

Azerbaijani oil export declined by 7 % Azerbaijani oil export decreased by 6.86% in June 2016 compared with previous month. According to the State Oil Company of Azerbaijan Republic (SOCAR) reports total export was 1.676 million tons of oil in June against 1.799 million tons in May. Meanwhile, Azerbaijani oil export was 1.449 million tons in April, and 1.9 million tons in March 2016. At that, June’s oil export via Baku-Novorossiysk oil pipeline... Read More

Azerbaijani oil income declined by about 2.0 times

Azerbaijani oil income declined by 2.0 times The State Customs Committee of Azerbaijan Republic has reported that Azerbaijani oil export was $2.315 billion US for Jan-May 2016 versus $4.035 billion US for the same period in 2015. The official statistics show that Azerbaijan oil export declined by 1.74 times in the first five months of 2016 compared to the same period previous year. Azerbaijan oil export was $429.809 million US on May 2016 against... Read More

Azerbaijani Oil Export in 2014: Brief Overview

Azerbaijani Oil Export in 2014: Brief Overview 2014 was marked by a sudden decline in oil prices in the world market. As an oil exporter country, Azerbaijan started feeling effects of a sharp fall in oil revenue after oil price decline in the world market owing to decline of the country’s oil income. In spite of the fact that Azerbaijan was able to reduce share of oil industry both in public revenues and in the country’s Gross Domestic Product... Read More

SOFAZ announces total revenues for 12 years

SOFAZ announces total revenues for 12 years Since the establishment of the State Oil Fund of Azerbaijan (SOFAZ) up until March 31, 2012, the Fund received $70.8 billion in revenues, SOFAZ head Shahmar Movsumov said in an interview published by the Respublika newspaper yesterday. SOFAZ was established in 1999 and then its assets amounted to $271 million. According to Movsumov, $32.4 billion (45.7 per cent) of the total revenues of the fund were directed... Read More