Baku, Azerbaijan, Jan. 18
By Anvar Mammadov – Trend:
The volume of Azerbaijan’s GDP was 59.99 billion manats in 2016 that is by 3.8 percent less than in 2015, the country’s State Statistics Committee said in a message Jan. 18.
The main reason of such a decline is the reduction by 27.6 percent in volume of goods production and services in the construction sector, according to the committee.
During the period, the volume of GDP in the country’s non-oil sector reached 39.4 billion manats and its share in the total volume of Azerbaijan’s GDP was 65.7 percent. The volume of value added production in the sphere of oil and gas output and processing was 34.3 percent of the GDP (20.58 billion manats).
During the period, 37.4 percent (22.43 billion manats) of Azerbaijan’s GDP accounted for the industrial sphere, 10 percent (5.58 billion manats) – for the construction sphere, 5.6 percent (3.4 billion manats) – for the agricultural sphere, forestry and fishery.
Net taxes on production and import accounted for 7.7 percent of Azerbaijan’s GDP.
The volume of value added production in Azerbaijan’s industrial sphere increased by 0.4 percent in 2016, as compared to 2015, trade and overhaul of vehicles – by 1.5 percent, tourist accommodation and catering – by 0.1 percent, in the sphere of information and communication services – by 4.5 percent, agricultural sphere, forestry and fishery – by 2.6 percent.
The official rate is 1.8045 AZN/USD on Jan. 18.