Azerbaijan’s GDP Growth Rate Ascends Again

Business Materials 16 July 2008 13:34 (UTC +04:00)

Azerbaijan, Baku, 16 July / corr. Trend I.Khalilova / The Gross Domestic Product (GDP) of Azerbaijan rose by 16.5% in the first half of 2008 as compared to the same period of 2007, State Statistical Committee reported on 15 July. The GDP amounted to AZN 18,505mln at the current prices. The GDP amounted to AZN 2,168.7 ($2,601) per head, rising by 15.2%.

General production volume in all economic fields rose by 18.7% amounting to 74.8% of GDP, of which industry provided the main part - 64.7% (AZN 11,966.600mln). Specific weight of service field amounted to 18.2% of GDP. Additional cost of service field production increased by 10.5% as compared to the same period of 2007.  Net production and import taxes amounted to 7% of GDP.

From January to June, agriculture, hunting and forestry provided AZN 567.7mln of additional cost, which is 3.1% of total GDP; construction - AZN 1,299.700mln (7%); transport - AZN 659.1mln (3.6%); communication and post service - AZN 268.7mln (1.4%); wholesale and retail trade, automobile field, domestic products and repairing of personal use items - AZN 1,141mln (6.2%); restaurants and hotels - AZN 159.4mln (0.9%) and social and other service - AZN 1,141mln (6.1%).

On 15 July, official exchange rate totaled 0.8051 AZN/USD.

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