...

Decrease in Oil Export Causes Fall in GDP

Oil&Gas Materials 29 October 2007 18:18 (UTC +04:00)

Azerbaijan, Baku / Trend corr. I.Khalilova / Decrease in oil export, particularly, interruption of oil export by the Azerbaijani International Operation Company (AIOC) caused fall in rate of GDP to27.1% within nine months of 2007 as compared to 32.5% in January to August, Arif Veliyev, the chairman of the State Committee on Statistics, said during the press-conference dedicated to results of socio-economic development.

AIOC clarified the interruption due to repair in oil production platforms within ten days.

Decrease of the export made up to 11% or $4,315,9mln, but import - $3,907,4mln. The trade turnover decreased by 4.7% or $8,223,3mln.

Decrease in oil export will affect on rate of GDP in the next months, Veliyev said. The growth of GDP will make up 28% or 29% by the end of the year.

Rise was observed in non-oil sector of Azerbaijan by 8.9% within nine months of 2007.

Latest

Latest