Baku, Azerbaijan, Dec. 14
By Anvar Mammadov – Trend:
The volume of Azerbaijan’s GDP reached 54.43 billion manats (official exchange rate on Dec. 14 is 1.7475 AZN/USD) in January-November 2016 that is by 3.9 percent less than in the same period of 2015, according to the country’s State Statistics Committee.
The report says that the main reason of Azerbaijani economy’s decrease is the decline in the volumes of production and services in the construction sector by 27.9 percent.
Azerbaijan’s non-oil sector decreased by 5.6 percent and its share in the country’s GDP was 66 percent during the eleven months of 2016 compared to January-November 2015.
The volume of value-added production in the field of oil and gas production and refining was 34 percent of the GDP; however, there was a decrease by 0.1 percent compared to January-November 2015.
During the reporting period, 37.5 percent (20.43 billion manats) of Azerbaijan’s GDP accounted for industry, 10.3 percent (5.58 billion manats) – for construction, 5.4 percent (2.95 billion manats) – for agriculture, forestry and fishery.
Net taxes on production and imports accounted for 7.5 percent of Azerbaijan’s GDP.
According to the report, 10.7 percent of the GDP (5.83 billion manats) produced in the service sector accounted for the trade and repair of vehicles, 6.7 percent (3.64 billion manats) – transport and warehousing, 2.5 percent (1.36 billion manats) – tourist accommodation and catering sphere, 1.8 percent (955.7 million manats) – information and communication services, 17.6 percent (9.58 billion manats) – other services.
The volume of value-added production in Azerbaijan’s industrial sphere increased by 0.3 percent, trade and repair of vehicles – by 1.7 percent, tourist accommodation and catering – by 0.6 percent, information and communication services – by 4.4 percent, agriculture, forestry and fishery – by 2.3 percent during the eleven months of 2016 compared to January-November 2015.