Growth Rate of GDP Reaches 11% in Azerbaijan in 2007

Business Materials 16 February 2008 14:22 (UTC +04:00)

Azerbaijan, Baku / corr Trend I.Khalilova / The Gross Domestic Product (GDP) in Azerbaijan increased by 11.3% in January 2008 as compared to similar period of 2006, the Azerbaijani State Committee on Statistic said. At current prices GDP made up AZN 2.286mln as of end January. The GDP volume comprised AZN 268.5 per capita ($317.7), with an increase of 10%.

The total of volume of production rose in all spheres of economy by 11.9% to 72.4% of the GDP with the major share of 65.8% (AZN 1.503.7mln) produced in industry. The value added cost in service sphere increased by 23.9% and specific weight in GDP was 22% in 2007. Net taxes from production and import comprised 5.6% in GDP.

AZN 61.8mln of the value added cost was produced in hunting sector and agriculture (2.7%), AZN 88.6mln in the construction sector (3.9%), AZN 105mln (4.6%) in transport, AZN 47.4mln (2.1%) in communications, AZN 146.9mln (6.4%) in wholesale and retail trade, automobile sphere, household wares and services on repairing of objects of personal use, AZN 19.5mln (0.9%) in restaurants and hotel sector, AZN 183.1mln (8%) in social services.