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Azerbaijan's economy increases by 1.1% in 2015

Business Materials 21 January 2016 14:30 (UTC +04:00)
A volume of Azerbaijan’s GDP amounted to 54.4 billion manat in 2015 or by 1.1 percent more than in 2014, the Azerbaijani State Statistics Committee’s report as of 2015 said.
Azerbaijan's economy increases by 1.1% in 2015

Baku, Azerbaijan, Jan. 21
By Anvar Mammadov - Trend:

A volume of Azerbaijan's GDP amounted to 54.4 billion manat in 2015 or by 1.1 percent more than in 2014, the Azerbaijani State Statistics Committee's report as of 2015 said.

The non-oil sector of the Azerbaijani economy increased by 1.1 percent compared to 2014. Its share in the country's GDP hit 69.3 percent.

The volume of value added production in the oil and gas extraction and processing hit 30.7 percent of GDP or by 1.2 percent more compared to 2014.

Some 52.3 percent was formed in the field of production during this period. The value added share generated in industry makes up 33.93 percent (18.44 billion manat), construction was 12.4 percent (6.6 billion manat), agriculture, forestry and fishery was 6.23 percent (3.39 billion manat).

Net taxes on products and imports amounted to 8.3 percent of Azerbaijan's GDP.
Some 39.4 percent of the gross output was created in the sector of services.

Around 10 percent (5.44 billion manat) of GDP in the sector of services accounted for the trade and repair of vehicles, 5.4 percent (2.93 billion manat) - transport and warehousing, 2.71 percent (1.48 billion manat) - tourist accommodation and catering sphere, 1.99 percent (1.08 billion manat) - the information and communication services, 19.3 percent (10.49 billion manat) - social and other services.

The volume of value added production in Azerbaijan`s industry increased by 1.6 percent, tourist accommodation and catering - 14 percent, information and communication services - 6.8 percent, trade and repair of vehicles - 10.9 percent, agriculture, forestry and fishery - 6.6 percent in 2015 compared to 2014.

The official exchange rate is 1.6028 AZN/USD Jan. 21.

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