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Azerbaijan's economy increases

Azerbaijan's economy increases

Date: 16 December 2015 19:57

Baku, Azerbaijan, Dec.16
By Azad Hasanli – Trend:

A volume of Azerbaijan’s GDP amounted to 50.1 billion manats (AZN) in January-November 2015 or by 3.1 percent more than in the same period of 2014, the Azerbaijani State Statistics Committee’s report as of January-November 2015 said.

The official exchange rate is 1.0495 AZN/USD Dec. 16.

The non-oil sector of the economy increased by 4 percent compared to the same period of 2014. Its share in the country’s GDP hit 69.3 percent.

The volume of value added production in the oil and gas extraction and processing hit 30.7 percent of GDP or by 1.8 percent more compared to the same period of 2014.

Some 53.3 percent was formed in the field of production during this period. The value added share generated in industry makes up 36.7 percent (16.85 billion manats), construction was 13.67 percent (6.85 billion manats), agriculture, forestry and fishery was 5.9 percent (nearly 3 billion manats).

Net taxes on products and imports amounted to 7.9 percent of Azerbaijan’s GDP.

Some 38.7 percent of the gross output was created in the sector of services.

Around 9.9 percent (nearly 5 billion manats) of GDP in the sector of services accounted for the trade and repair of vehicles, 5.5 percent (2.7 billion manats) - transport and warehousing, 2.7 percent (1.3 billion manats) - tourist accommodation and catering sphere, 2 percent (985.3 million manats) - the information and communication services, 18.7 percent (9.4 billion manats) - social and other services.

The volume of value added production in Azerbaijan`s construction sector increased by 1.9 percent, tourist accommodation and catering – 13.8 percent, information and communication services – 6.8 percent, trade and repair of vehicles – 11.1 percent, agriculture, forestry and fishery – 6.7 percent in January-October 2015 compared to the same period of 2014.

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