Baku, Azerbaijan, May 18
By Azad Hasanli - Trend:
A total volume of Azerbaijan's GDP amounted to 16.87 billion manat in January-April 2016 or by 4.5 percent less than in the same period of 2015, the Azerbaijani State Statistics Committee's report said May 18.
As of May 18, the official exchange rate is 1.5017 AZN/USD.
"The main reason for the GDP decline is to decrease the volumes of production of goods and services in the construction and transport sectors by 35.5 percent and 14.2 percent accordingly," the report says.
The economy's non-oil sector decreased by 6.8 percent compared to January-April 2015 and its share in the country's GDP was 64.85 percent.
The volume of value added production in the oil and gas extraction and processing hit 35.15 percent of GDP. Zero growth was observed compared to January-April 2015.
Some 51.3 percent was formed in the field of production during this period. Some 39.5 percent (almost 6.7 billion manat) accounted for industry, 8.7 percent (1.5 billion manat) - construction, 3.1 percent (523.1 million manat) - agriculture, forestry and fishery.
Net taxes on products and imports amounted to 7.9 percent of Azerbaijan's GDP.
According to the report, some 40.8 percent was formed in the field of services during this period.
The value added share generated in trade and vehicle repair hit 12.8 percent (2.16 billion manat), transport and warehousing - 6.5 percent (1.1 billion manat), tourist accommodation and catering - 3.08 percent (520.8 million manat), information and communication - 2 percent (339.8 million manat), other spheres - 16.3 percent (almost 2.75 billion manat).
During this period, the value added production volume in industry increased by 0.3 percent, trade and repair of vehicles - 2.7 percent, tourist accommodation and catering - 3.5 percent, information and communication services - 11 percent, agriculture, forestry and fishery - 3.5 percent compared to January-April 2015.