Industry in Azerbaijan

Azerbaijan Industry | Economic News & Forecasts

Azerbaijan - Industry

Economic momentum gained steam in the first half of the year on the back of a strengthening non-oil sector. Annual GDP growth for the January–June period was 1.3%, up from the 1.1% recorded in the first five months of the year. The non-oil sector continued to outpace the oil sector, where growth essentially flatlined. Moreover, in the same period, industrial production accelerated; it was similarly driven by higher non-oil output. Despite weaker growth in the all-important oil sector, higher oil prices continue to buoy the economy. In light of higher prices, the 2018 state oil fund budget was amended on 17 July to account for increased hydrocarbon revenue.

Azerbaijan - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)1.8  -0.7  2.4  -0.5  -3.4  

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Azerbaijan Industry Chart

Azerbaijan Industry
Note: Industrial production, annual variation in %.
Source: State Statistical Committee

Azerbaijan Facts

Exchange Rate1.70-0.66 %Aug 15
Stock Market0.10.0 %Aug 15

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