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Azerbaijan's industrial sector makes up considerable share of GDP

Business Materials 11 February 2021 14:24 (UTC +04:00)
Azerbaijan's industrial sector makes up considerable share of GDP

BAKU, Azerbaijan, Feb. 11

By Zeyni Jafarov - Trend:

The bulk of the structure of Azerbaijan's GDP accounted for the industrial sector in January 2021, Trend reports citing the State Statistical Committee of Azerbaijan.

According to the committee, this sector accounted for 40.6 percent, which is 3.6 percentage points less than the same period in 2020. Another 10.6 percent of GDP fell on trade and repair of vehicles (an increase of 0.7 percentage points), 8.1 percent - transport and warehousing (an increase of 1.2 percentage points).

“Agriculture, forestry, and fish farming accounted for 3 percent of the GDP, while construction accounted for 4.9 percent. Less than 0.6 percent accounted for the hotel business and catering, 1.9 percent for information and communications, and 20.6 percent for other sectors of the economy,” the committee report reads.

In January 2021, net tax revenues from imports of products amounted to 9.7 percent of GDP, while in January 2020 - 8 percent of GDP.

The volume of Azerbaijan's GDP in January 2021 decreased compared to the corresponding indicator of 2020 by 2.5 percent and amounted to 6.25 billion manat ($3.67 billion).

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