Azerbaijan Economic Forecast
October 3, 2017Azerbaijan’s economy has begun to show signs of revival. In August, despite a steeper headline GDP contraction of 1.1% annually, the economy’s non-oil sector registered a 2.4% expansion according to the Statistical Institute’s monthly GDP estimate. The improvement was powered by a strong performance in the non-oil industrial sector, as well as the first expansion in fixed investment in almost two years. Despite the multi-year economic slump caused by the global downturn in oil prices, households continued to spend at a healthy pace, with retail sales growth remaining positive. The improvement in the non-oil sector was further supported by strong overseas demand for Azerbaijani goods, while imports continued to contract, albeit at a slower pace.
Azerbaijan Economy Data
5 years of Azerbaijan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.71||-0.01 %||Oct 16|
|Stock Market||0.1||0.0 %||Oct 16|
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Azerbaijan Economic Growth
October 3, 2017The economy is expected to emerge from recession next year on the back of a recovery in oil and gas prices, and also thanks to an expanding non-oil sector. Our panel expects GDP to drop 0.5% in 2017 and expand 1.5% in 2018, which is down 0.2 percentage points from last month’s estimate.