BAKU, Azerbaijan, Mar. 12
By Nargiz Ismayilova - Trend:
The gross domestic product of Azerbaijan amounted to 12.6 billion manat ($7.4 billion) over first two months of 2020, which indicates an increase of 2.8 percent compared to the same period of 2019,Trend reports referring to the country's State Statistical Committee.
GDP in country's non-oil sector increased by 6.7 percent during the reporting period compared to the same one of 2019, having amounted to 7.6 billion manat ($4.5 billion).
The value of GDP per capita over the period from January through February 2020 amounted to 1.3 billion manat ($764.7 million). The GDP per capita indicator is 1.9 percent more compared to the same period of last year.
According to the World Bank's updated report on Europe and Central Asia, Azerbaijan’s GDP growth in 2020 will slow down to 2.3 percent (-1.2 percent from the April’s forecast). And in 2021 it will reduce to amount to 2.1 percent (-1.6 percent from the April forecast).
WB estimates that the average annual GDP growth in Azerbaijan will be 2.4 percent in 2019-2021.
According to the forecasts of the bank, in 2019-2021 the growth of agricultural production will be 4.2 percent, 4.4 percent and 4.5 percent, respectively, whereas the growth of industrial production - 0.6 percent, 1.8 percent and 1.5 percent, and services - 6,4 percent, 2.6 percent and 2.8 percent, respectively.
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