Azerbaijan Economic Forecast
March 6, 2018While Azerbaijan’s economy expanded marginally in 2017 following a sizeable contraction in the previous year, it is too early to tell whether the economy is out of the woods yet. However, recent data seems to suggest that growth is on a firmer footing. In January, the economy grew 2.0% over the same month last year, chiefly driven by the non-oil sector, as the economy excluding that sector grew 3.9% year-on-year in the same month. The result in January was driven by an uptick in private consumption and non-oil industrial production.
Azerbaijan Economic GrowthA Strategic Partnership Agreement with the EU should improve the country’s investment and export potential, boosting the economy. Moreover, the reopening of the largest hydro-power plant in the country bodes well for diversification efforts and energy exports. This year, growth should be buttressed by robust private consumption and increased commodity prices. The FocusEconomics panel sees GDP growth of 1.6% in 2018, up 0.1 percentage points from last month’s estimate, and 2.2% in 2019.
Azerbaijan Economy Data
5 years of Azerbaijan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.70||-0.66 %||Mar 15|
|Stock Market||0.1||0.0 %||Mar 15|
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