Azerbaijan’s non-oil GDP ups by 10.7 percent in January - August

Business Materials 17 September 2012 14:41 (UTC +04:00)

Azerbaijan, Baku, Sept 17 /Trend A.Hasanov/

Azerbaijan's GDP increased by 1.3 percent for January - August of 2012 and hit 35.1 billion manat at current prices over the same period of last year, the State Statistics Committee told Trend.

Nominal GDP growth for the first half of this year amounted to 2.4 percent compared to the same period of last year. The volume of GDP per capita was 3,838 manat ($4,883).

Non-oil sector increased by 10.7 percent to 49.8 percent of GDP compared to the same period of previous year.

The added value in agriculture, fisheries and forestry hit 2.1 billion manat, or 5.8 percent of GDP, the construction sector - 3.4 billion manat (9.6 percent), trade and repair of vehicles - 2.4 billion manat (6.9 percent), transport and warehousing - 1.7 billion manat (4.8 percent), communications and information - 602.8 million manat (1.7 percent), tourist accommodation and catering - 464.5 million manat (1.3 percent), social support and other services - 4.1 billion manat (11.8 percent) in the first eight months of the year.

The total volume of production in all sectors of the economy decreased by 0.3 percent and amounted to 23.66 billion manat in January - August compared to the same period of 2011, where the main part - 51.9 percent of GDP (18.2 billion manat) falls to the industry. The production of value added in services increased by 6.9 percent, reaching 9.3 billion manat compared to the same period of 2011.

Net taxes on products and imports increased by 14.4 percent and amounted to 2.178.1 billion manat, or 6 percent of GDP.

Official exchange rate on Sept 17 is 0.7853 AZN/USD