Azerbaijan: Economy

Azerbaijan’s gross domestic product contracted by 3.4% in the first half of 2016, reversing 5.7% growth in the same period of 2015. Sharp declines in export revenue and domestic demand explain the contraction. With tighter fiscal policy, capital investment plunged by 37.0% in the first half of 2016, and construction by 33.6% following 11.5% growth in the same period in 2015; activity outside the oil sector contracted by 6.1% overall despite gains of 1.0% in trade and tourism. ADB forecasts deeper contraction in 2016 than projected in March, reflecting greater impact than expected from weak oil prices. Read more from Asian Development Outlook 2016 Update


Economic forecasts for Central Asian countries

Country 2016 2017
Armenia 2.0 2.3
Azerbaijan -2.5 1.0
Georgia 3.0 4.0
Kazakhstan 0.1 1.0
Kyrgyz Republic 1.0 2.0
Tajikistan 3.8 4.0
Turkmenistan 5.5 5.5
Uzbekistan 6.9 7.3
Average 1.5 2.6
Country 2016 2017
Armenia 1.5 4.0
Azerbaijan 12.0 5.2
Georgia 3.0 4.0
Kazakhstan 14.7 6.0/td>
Kyrgyz Republic 5.0 8.0
Tajikistan 8.5 7.5
Turkmenistan 5.0 4.4
Uzbekistan 10.0 11.0
Average 11.5 6.4
Country 2016 2017
Armenia -4.8 -5.0
Azerbaijan -0.6 1.5
Georgia -12.0 -1.5
Kazakhstan -5.5 -4.9
Kyrgyz Republic -17.0 -15.0
Tajikistan -4.8 -5.5
Turkmenistan -13.3 -10.0
Uzbekistan 0.2 0.8
Average -5.0 -3.9

Source: Asian Development Outlook 2016 Update

 

 
This page was generated from https://www.adb.org/countries/azerbaijan/economy on 29 September 2016