Azerbaijani economy nominally increases by over 3% since early 2014
Baku, Azerbaijan, Oct. 17
By Azad Hasanli - Trend:
A total volume of Azerbaijan's GDP amounted to 44.1 billion AZN in January-September 2014 or by 2.5 percent more than in the same period of last year, the Azerbaijani State Statistics Committee's report says.
Nominal GDP growth made up 3.2 percent.
GDP per capita increased by 1.2 percent and made up 4696.3 AZN ($5987.9) in January-September, the report said.
Some 61.1 percent of GDP in Azerbaijan was formed in the field of production during this period.
The value added share generated in industry makes up 44.3 percent, construction - 11.9 percent, agriculture, forestry and fishery - 5.4 percent. Some 31.2 percent of gross output was generated in the service sector.
Around 25 percent of GDP in the sector of services accounted for trade and repair of vehicles, 15.2 percent - transport and warehousing, 6.4 percent - tourist accommodation and catering sphere, 5.4 percent - the information and communication services, 48 percent - social and other services.
The non-oil sector of the economy increased by 6 percent compared to the same period of last year. Its share in GDP increased from 56.3 percent to 57.9 percent. The volume of value added production in the oil and gas extraction and processing decreased by 2 percent and hit 42.1 percent of a total GDP share.
Gross production in agriculture, forestry and fishery decreased by 3.7 percent, while by 1.1 percent in the industry.
The volume of value added production in Azerbaijan`s construction sector increased by 7 percent, tourist accommodation and catering - 16 percent, information and communication services - 12.6 percent, trade and repair of vehicles - 9.4 percent, transport and warehousing - 5.7 percent, social and other services - 4.8 percent in January-September 2014 compared to the same period of 2013.
Net taxes on products and imports amounted to 3.170 billion manat or 7.2 percent of Azerbaijan's GDP.
The official exchange rate is 0,7843 AZN/USD Oct. 17.