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Azerbaijan's GDP increases by 1.1 percent

Business Materials 15 September 2011 10:40 (UTC +04:00)

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

Azerbaijan's GDP increased by 1.1 percent or 292.5 million manat in January-August 2011 compared to the same period of 2010, the Azerbaijani State Statistics Committee reported.

The current price GDP indicator reached 30.9 billion manat. GDP per capital hit 3.418.4 manat ($4.320.6).

Non-oil sector grew by 8.5 percent over a year.

The total production volume declined by 1.9 percent in all sectors of the economy and amounted to 20.6 billion manat, from which 53.3 percent of GDP (16.5 billion manat) is allocated to industrial production. In services with manufacturing value added, an increase of 6.5 percent was observed, compared to January-August 2010, reaching 8.4 billion manat.

Value added worth 1.9 billion manat was observed in agriculture, hunting, and forestry sectors - which is 6.2 percent of GDP, the construction sector - 2.2 billion manat (7.3 percent), transport and storage economy - 1.9 billion manat (6 percent), trade and repair of transport vehicles - 2.2 billion manat (7 percent), tourist accommodation and catering services - 415.2 million manat (1.3 percent), telecommunications and postal services - 519.4 million manat (1.7 percent), social and other services - 3.5 billion manat (11.3 percent).

The official exchange rate is 0.7867 manat to $1 on Sept.15.

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