Azerbaijani economy increases nominally by 10 percent
Azerbaijan, Baku, April 19 / Trend A. Hasanov /
The Azerbaijani GDP has increased by 0.5 percent (50.7 million manat) in the first quarter of 2012 compared to the same period last year and hit 12.3 billion manat at current prices, the State Statistics Committee told Trend today.
The nominal GDP growth hit 9.8 percent in January-March this year. The GDP volume per capita amounted to 1346.1 manat ($1712.5).
The non-oil GDP increased by 7.7 percent, reaching 40.7 percent of the GDP over the same period last year.
Added value worth 294.9 million manat was formed in agriculture, fisheries and forestry in the first quarter, representing 2.4 percent of the GDP, 599.2 million manat (4.8 percent) in the construction sector, 804.3 million manat (6.5 percent) in vehicle trade and repair,
553.9 million manat (4.5 percent) in transport and warehousing, 194.4 million manat (1.5 percent) in telecommunications and information, 169 million manat (1.3 percent) in tourist accommodation and catering, and 1332.8 million manat (10.8 percent) in social support and other services.
The total volume of production in all sectors of the economy increased by 9 percent and amounted to 8.43 billion manat compared to the same period of 2011, where the main part - 61.3 percent of GDP (7.5 billion manat) falls to the industry. Value-added in the sphere of services increased by 5.8 percent and amounted to 3.054 billion manat compared to the same period of 2011.
The net taxes on products and imports increased by 19.2 percent and amounted to 802.4 million manat or 6.5 percent of GDP.
The official exchange rate is 0,7861 AZN/USD on April 19.