Azerbaijan’s non-oil economy up by almost 2%

Business Materials 17 July 2017 16:59

Baku, Azerbaijan, July 17

By Azad Hasanli – Trend:

The volume of Azerbaijan’s GDP totaled 31.31 billion manats in 1H17, according to a report of the country’s State Statistics Committee.

The GDP per capita amounted to 3,220 manats.

The volume of Azerbaijan’s GDP in non-oil sector increased by 1.7 percent in 1H17 as compared to the same period of 2016. Meanwhile, a decline by 6.6 percent was observed in the oil and gas sector during the period.

Thus, 42.14 percent (13.2 billion manats) of Azerbaijan’s GDP accounted for industrial sphere, 8.1 percent (2.5 billion manats) – for construction, 4.98 percent (1.56 billion manats) – for agriculture, forestry and fishery.

Net taxes on production and import accounted for almost 7.2 percent of Azerbaijan’s GDP.

According to the report, 10.9 percent of the GDP (3.4 billion manats), produced in the service sector, accounted for trade and maintenance of vehicles, almost 7.2 percent (2.25 billion manats) – for transport and warehousing, 2.7 percent (846.6 million manats) – for accommodation of tourists and catering, 1.75 percent (548.4 million manats) – for information and communication services, 15 percent (4.71 billion manats) – for other services.

(1.7022 manats = $1 on July 17)