$ 144.3 Million US Deficit for 4 Months

$ 144.3 US Million Deficit for 4 Months The deficit of the foreign trade turnover of Azerbaijan totaled $ 144.3 million US in the first four months of 2016. Meanwhile, foreign trade balance had a surplus with amount of $ 867.2 US million in the same period in 2015. According to the State Statistic Committee of Azerbaijan, in January-April this year the volume of export-import operations with 152 countries comprised $ 5 billion 44 million US, a decline... Read More

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