Baku, Azerbaijan, March 18
By Anvar Mammadov - Trend:
A total volume of Azerbaijan's GDP amounted to 7.889 billion manats in January-February 2016 or by 3.2 percent less than in the same period of 2015, the Azerbaijani State Statistics Committee's report as of January-February 2016 said.
"The main reason for the GDP decline is to decrease the volume of production of goods and services in the construction and transport sectors," the report says.
Some 38.1 percent was formed in the field of production during this period. The value added share generated in trade and vehicle repair hit 13 percent, construction was 8.7 percent, agriculture, forestry and fishery was 3.1 percent, 7.2 percent - transport and warehousing, 3.6 percent - tourist accommodation and catering, 2.1 percent - information and communication, 13.6 percent - other spheres.
The economy's non-oil sector decreased by 5.5 percent compared to January-February 2015 and its share in the country's GDP was 66.8 percent.
The volume of value added production in the oil and gas extraction and processing hit 33.2 percent of GDP or by 1.3 percent more during the year.
Net taxes on products and imports amounted to 10.6 percent of Azerbaijan's GDP.
GDP per capita hit 822.3 manat ($521.4).
During this period, the value added production volume in information and communication services increased by 7.7 percent, trade and repair of vehicles - 4.2 percent, tourist accommodation and catering - four percent, agriculture, forestry and fishery - 2.6 percent, industry - 1.1 percent.
The official exchange rate is 1.5971 AZN/USD as of March 18.