Non-oil sector’s volume in Azerbaijan’s GDP grows 2.8 times
Baku, Azerbaijan, Oct. 1
By Matanat Nasibova - Trend:
Over the past 10 years, the volume of the non-oil sector in Azerbaijan’s GDP increased by 2.8 times, while over the reporting period, the country’s total GDP grew by more than three times, Tahir Budagov, head of the State Statistics Committee of Azerbaijan, said at a press conference Oct. 1, Trend reports.
He said that during the reporting period, positive trends were observed in terms of the volume of various production areas.
“In particular, in the field of industrial production, this indicator increased by 2.6 times during the reporting period, including an increase of 2.4 times in the oil and gas sector, the amount of funds allocated to fixed assets increased by more than three times, and the funds allocated for construction and installation work increased 4.6 times,” he noted. “At the same time, the volume of cargo transportation increased 2.1 times, the volume of passenger transportation increased 2.2 times. The volume of services in the field of communications and information increased 12.3 times.”
Further, Budagov noted that during the reporting period, the state budget revenues grew 8.14 times.
Over the same period, nominal incomes of the population grew 9.4 times, bank deposits of citizens increased 9.2 times, and lending to the economy increased 19.4 times, he said.
At the same time, the average salary of Azerbaijani citizens increased seven times, and the average level of pensions increased 6.3 times, he added.