Azerbaijan's gross domestic product expanded 1.0 percent in the January-November 2018 period compared to the same period of 2017. The non-oil sector grew 1.3 percent and the oil sector advanced 0.3 percent. Considering the structure of Azerbaijan’s GDP, 45.2 percent was formed in the industry, 9.3 percent in trade, 6.8 percent in construction, 6.4 percent in transport and warehousing and 5.4 percent in agriculture, forestry and fisheries. Leading Economic Index in Azerbaijan averaged 8.77 percent from 2006 until 2018, reaching an all time high of 116.10 percent in September of 2012 and a record low of -4.50 percent in April of 2016.
Leading Economic Index in Azerbaijan is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Azerbaijan to stand at 1.90 in 12 months time. In the long-term, the Azerbaijan GDP YoY is projected to trend around 3.10 percent in 2020, according to our econometric models.