The Azerbaijani economy in the first quarter of 2019: Brief Overview

Abstract

CESD – the Center for Economic and Social Development – concluded its macro-economic survey results for the first quarter of 2019. According to the State Statistic Committee of Azerbaijan, Gross Domestic Product (GDP) increased by 3.0 % in January-March 2019 compared with the same period of previous year: The CESD’s figure for the same period was 2.4 %. The GDP totaled 18,111 billion manat ($10.653 billion USD) in the first quarter of 2019. The State Statistics Committee announced non-oil GDP increased by 1.7 % in the same period compared with the first quarter of 2018. According CESD’s calculations, non-oil GDP increased by 1.2 % in the first quarter of 2019. After tourism boom, the State Border Service reports that Azerbaijan registered arrival of 610,800 foreign citizens and individuals without citizenship from 157 countries of the world in the first quarter of 2019. According to the State Statistics Committee, the number of visitors decreased by 2.9% against the same term of 2018.