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Azerbaijani economy grows nominally almost 5%

Business Materials 14 June 2014 11:41 (UTC +04:00)

Baku, Azerbaijan, June 13
By Zulfiya Gurbanova - Trend:

Total volume of the Azerbaijani GDP amounted to 23.4 billion AZN in January-May 2014, which exceeds the figure for the same period last year by 2.8 percent, the Azerbaijani State Statistics Committee reported.

Nominal GDP growth made up 4.8 percent.

The per capita GDP in January-May made up 2 499.8 AZN ( $ 3187.4), the report said.

Some 61.2 percent of GDP in Azerbaijan was formed in the fields of production during this period, which showed an increase of 0.9 percent.

The value added share generated in industry makes up 47 percent, construction - 11.5 percent. Some 31.7 percent of gross output was generated in the service sector.

Net taxes on products and imports amounted to 1656.1 million manat or 7.1 percent of the Azerbaijani GDP.

At the same time, 14.2 percent of GDP originating in the services sector accounted for social and private services, 8 percent - trade and services, 5.6 - transportation and warehousing, 2.7 percent - agriculture, forestry and fish farms.

The non-oil sector grew by 8.3 percent compared to the same period last year, its share in GDP was 55.4 percent. The volume of value added production in the extraction and processing of oil and gas decreased by 2.8 percent.

The volume of value added in the Azerbaijan`s construction sector increased by 17.3 percent in January-May 2014, tourist accommodation and catering - 15.2 percent, information and communication services - 12 percent, trade and repair of vehicles - 8.8 percent, transport and warehousing - 6 percent, social and other services - 3.3 percent, agriculture, forestry and fish farming- 2.7 percent compared to the same period last year.

Official exchange rate on June 13 is 0.7843 AZN / USD.

Edited by CN

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