Baku, Azerbaijan, Aug. 13

By Azad Hasanli – Trend:

Azerbaijan’s GDP amounted to almost 32.12 billion manats (1.6102 AZN/USD on Aug. 13) in January-July 2016, or 3 percent less as compared to the first seven months of 2015, according to a report of the State Statistics Committee.

The report says that the main reason of the Azerbaijani economy’s reduction is the 30.7 percent decline in volumes of production and services in the construction sector.

Over the seven months of 2016, non-oil sector of the Azerbaijani economy decreased by 5.4 percent as compared to January-July 2015 and its share in the country’s GDP was 64.8 percent.

During the period, 53.8 percent of Azerbaijan’s GDP accounted for production sector, of which 38.8 percent (almost 12.46 billion manats) accounted for industry, 9.36 percent (three billion manats) – for construction, almost 5.6 percent (1.8 billion manats) – for agriculture, forestry and fish farms.

Net taxes on products and imports accounted for 7.46 percent of Azerbaijan’s GDP.

Over the seven months of 2016, the volume of value added production in Azerbaijan’s industry increased by 2.1 percent as compared to January-July 2015, while the same figure in trade and repair of vehicles increased by 2 percent, in tourist accommodation and public catering – by 3 percent, in information and communication services – by 12.5 percent, and agriculture, forestry and fish farms – by 2.6 percent.