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Non-oil sector of Azerbaijani economy increases by over 6 %

Business Materials 17 December 2014 17:27 (UTC +04:00)
A total volume of Azerbaijan’s GDP amounted to 53.7 billion AZN in January-November 2014 or by 2.2 percent more than in the same period of last year

Baku, Azerbaijan, Dec. 17

By Azad Hasanli - Trend:

A total volume of Azerbaijan's GDP amounted to 53.7 billion AZN in January-November 2014 or by 2.2 percent more than in the same period of last year, the Azerbaijani State Statistics Committee's report said Dec.15.

It is reported that the nominal GDP growth amounted to 1.8 percent.

GDP per capita increased by 0.9 percent and made up 5710.7 AZN ($7,281.3) in January-November, the report said.

Some 60.2 percent was formed in the field of production during this period, which is 0.3 percent less than in the same period last year.

The value added share generated in industry makes up 42.6 percent, construction - 12.6 percent, agriculture, forestry and fishery - 5.1 percent. Some 32.5 percent of gross output was generated in the service sector.

Net taxes on products and imports amounted to 3.931.6 billion AZN or 7.3 percent of Azerbaijan's GDP.

Around 7.9 percent of GDP in the sector of services accounted for trade and repair of vehicles, 4.85 percent - transport and warehousing, 2.12 percent - tourist accommodation and catering sphere, 1.8 percent - the information and communication services, 15.8 percent - social and other services.

The non-oil sector of the economy increased by 6.5 percent compared to the same period of last year. Its share in GDP increased up to 59.8 percent. The volume of value added production in the oil and gas extraction and processing decreased by 3.4 percent.

The volume of value added production in Azerbaijan`s construction sector increased by 8.6 percent, tourist accommodation and catering - 16.8 percent, information and communication services - 14.2 percent, trade and repair of vehicles - 9.5 percent, transport and warehousing - 4.9 percent, social and other services - 4.3 percent in January-November 2014 compared to the same period of 2013.

Gross production in agriculture, forestry and fishery decreased by 2.9 percent, while by 3.2 percent in the industry.

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Azad Hasanli is Trend Agency's staff journalist, follow him on Twitter: @AzadHasanli

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