Azerbaijan's GDP increases by 0.9 percent

Business Materials 15 July 2011 13:01 (UTC +04:00)

Azerbaijan, Baku, July 15 / Trend N.Ismayilova /

Azerbaijan's GDP increased by 0.9 percent in the first half of 2011 compared to the same period of 2010, the Azerbaijani State Statistics Committee reported. The current price GDP indicator reached 22.5 billion manat. GDP per capital hit 2.496.9 manat ($3.149.5).
Nominal GDP grew by 13.47 percent over a year.

The non-oil sector increased by 7.2 percent, and the oil and gas sector decreased by 5.1 percent.

The total production volume declined by 2.4 percent in all sectors of the economy and amounted to 66.2 percent of GDP, from which 54.7 percent of GDP (12.3 billion manat) is allocated to industrial production. In services with manufacturing value added, an increase of 7.1 percent was seen, compared to the first half of 2010, reaching 27.9 percent of GDP.

Value added worth 1.044.6 billion manat was generated in agriculture, hunting, and forestry sectors - 4.6 percent of GDP, the construction sector - 1.545.5 billion manat (6.9 percent), transport and storage economy - 1.395.7 billion manat (6.2 percent), telecommunications and postal services - 378.8 million manat (1.7 percent), social and other services - 2557.8 billion manat (11.4 percent).