Azerbaijan's economy grows by 4.5 percent
Azerbaijan, Baku, 13 June / Trend I.Khalilova /
In January-May 2013, Azerbaijan's GDP grew by 4.5 percent compared to the same period of last year and amounted 22.12 billion manat at current prices, according to the State Statistics Committee's report released on Thursday. The growth of manufacturing value added amounted to 0.7 percent the previous year.
Nominal GDP growth stands at 2.7 percent. GDP per capita grew by 3.1 percent, and, on average, amounted to 2,389 manat ($ 3,044.4).
Manufacturing value added in the non-oil sector grew over the year by 11 percent to $11.62 billion manat, or 52.5 percent of GDP, and fell by 1.4 percent in the oil-and-gas sector. Value added in the services sector, compared to the same period of 2012, increased by 6.2 percent to 6.83 billion manat.
Total production in all sectors of the economy increased by 3.3 percent compared to January-May 2012, amounting to 13,858 billion manat, or 62.7 percent of GDP. At the same time, industrial production in the country decreased by 1.4 percent to 11.11 billion manat, which is 50.2 percent of GDP.
In January-May, value added to the sum of 608.7 million manat (5.2 percent growth) was generated in agriculture, fisheries and forestry, constituting 2.8 per cent of GDP, in the construction sector - 2.138 billion manat (9.7 percent of GDP, with growth of 38.7 percent), in trade and the repair of vehicles - 1.7 billion manat (7.7 percent of GDP, with growth of 8.8 percent), in transport and warehousing - 1.362.5 billion (6.2 percent of GDP with growth of 5.3 percent), in the field of tourist accommodation and catering services - 486.3 million manat (2.2 percent of GDP, with growth of 20.3 percent), in communications and information - 382.1 million manat (1.7 percent of GDP, with growth of 7.9 percent), in the provision of social and other services - 2.898 billion (13.1 percent of GDP, with growth of 2.9 percent).
Net taxes on products and imports increased by 9.3 percent and amounted to 1.431 billion manat or 6.4 percent of GDP.
The official exchange rate on June 13 is 0.7846 AZN / USD.