Baku, Azerbaijan, June 16
By Azad Hasanli - Trend:
A total volume of Azerbaijan's GDP amounted to 21.5 billion manat in January-May 2016 or by 4.2 percent less than in the same period of 2015, the Azerbaijani State Statistics Committee's report said June 16.
The official exchange rate is 1.515 AZN/USD as of June 16.
"The Azerbaijani economy mainly decreased because the volumes of production of goods and services in the construction and transport sectors decreased by 37 percent and 9.5 percent accordingly," the report says.
The economy's non-oil sector decreased by 7 percent in January-May 2016 compared to January-May 2015 and its share in the country's GDP was 64.2 percent.
The volume of value added production in the oil and gas extraction and processing hit 35.8 percent of GDP. One percent growth was observed compared to January-May 2015.
Some 51.9 percent was formed in the field of production during this period. Some 39.8 percent (almost 8.57 billion manat) accounted for industry, 8.6 percent (1.85 billion manat) - construction, 3.5 percent (747.5 million manat) - agriculture, forestry and fishery.
Net taxes on products and imports amounted to 7.7 percent of Azerbaijan's GDP.
According to the report, some 40.4 percent was formed in the field of services during this period.
The value added share generated in trade and vehicle repair hit 12.2 percent (2.6 billion manat), transport and warehousing - 6.6 percent (1.4 billion manat), tourist accommodation and catering - 3.2 percent (680.5 million manat), information and communication - almost 2 percent (425.3 million manat), other spheres - 16.4 percent (almost 3.5 billion manat).
During this period, the value added production volume in industry increased by 1.1 percent, trade and repair of vehicles - 1.9 percent, tourist accommodation and catering - 3.4 percent, information and communication services - 11.1 percent, agriculture, forestry and fishery - 5.8 percent compared to January-May 2015.