Azerbaijan Economic Forecast
February 6, 2018Data released by the government showed that the Azerbaijan economy posted a meager growth rate of 0.1% in 2017 over the year before. However, the figures paint a mixed picture: The overall economy, including the oil sector, continued to struggle, while the non-oil economy performed robustly and grew 2.7% year-on-year. Private consumption seemingly led the way, as retail trade data recorded a solid growth rate for the year. Household spending was likely supported by strong wage growth; however, fixed investment contracted significantly in the year, dragging on domestic demand.
Azerbaijan Economic GrowthOngoing talks with the EU to reach a comprehensive agreement with the country should improve Azerbaijan’s export and investment potential. Moreover, private consumption is likely to buttress economic growth this year, while the outlook for oil exports is expected to improve. Met the why particular panel sees GDP growth of 1.5% in 2018, unchanged from last month’s estimate, and 2.1% 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 %||Feb 22|
|Stock Market||0.1||0.0 %||Feb 22|
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