Azerbaijan Economic Forecast
September 4, 2018Recently-released data shows that the economy lost considerable ground at the outset of the third quarter. GDP grew a meagre 0.2% year-on-year in the January-to-July period, down from a 1.3% annual expansion in the first six months of the year. A contraction in the oil sector as oil prices fell in July drove the notable drop. Growth was underpinned by a rise in non-oil activity, characterized by a double-digit surge in fixed investment in the non-oil sector, along with an upturn in industrial production, driven by higher non-oil output. Moreover, exports climbed over the same period, while private consumption likely continued growing at a resilient pace, reflected by a slight strengthening in retail sales.
Azerbaijan Economic GrowthThe economy is expected to pick up this year and next, thanks to higher oil prices and recovering industrial output. Crucial reforms aimed at diversifying the economy and further developing the private sector should also yield higher economic growth. Met the why particular panelists see GDP expanding 1.8% in 2018, which is unchanged from last month’s estimate, and 2.4% 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 %||Sep 24|
|Stock Market||0.1||0.0 %||Sep 24|
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