Baku, Azerbaijan, Oct.14
By Azad Hasanli - Trend:
The share of non-oil sector in Azerbaijan's GDP in 2015 is predicted at 65.1 percent, which is 5.5 percent higher than the forecasts for 2014 and 8.5 percent higher than in 2013, said the presentation of projects of state and consolidated budget of Azerbaijan for 2015, released by the Ministry of Finance of Azerbaijan.
The share of oil sector in GDP for 2015 is predicted at 34.9 percent versus 40.4 percent in 2014.
The real growth of the national economy will be 4.4 percent in 2015, and the volume of GDP in market prices will amount to 59.8 billion AZN, according to macroeconomic forecasts and the concept of socio-economic development of Azerbaijan, prepared by the Ministry of Economy and Industry of Azerbaijan.
The official exchange rate for October 14 is 0, 7843 AZN / USD.
The GDP for the oil sector in 2014 will be reduced by 2.2 percent, while the value added in the non-oil sector will increase by 8.1 percent compared to the last year, and is expected to reach 39.5 billion AZN, according to the updated forecasts.
The share of private sector in GDP of Azerbaijan in 2015 is predicted to reach 83 percent. The share of industry in GDP will amount to 37.3 percent, the main part of which falls on the oil and gas industry (with a 32.1 percent share of GDP).
The share of non-oil industry in GDP is expected to reach 5.3 percent, which is 0.4 percent higher than the forecast for 2014 and above the actual figure of 2013 by 0.7 percent.
For the first 9 months of 2014, the country's GDP reached 44 billion AZN, which is 2.5 percent higher than the same period last year.
GDP volume on oil sector decreased by 2.1 percent, while the value added in the non-oil sector grew by 6 percent compared to the same period last year.
The total volume of production in all sectors of the economy amounted to 61.8 percent of GDP, the share of the service sector accounted for 31 percent, the share of net taxes on production and imports - 7.2 percent.
The share of industry in GDP was 44.6 percent, the service sector - 16.7 percent (4.7 percent - transport, 9.8 percent - trade and services, 1.6 percent - communications), social and other services - 14.9 percent, the construction sector - 11.8 percent, agriculture - 5.4 percent.