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Azerbaijan's GDP shows increase

Finance Materials 10 April 2020 17:52 (UTC +04:00)
Azerbaijan's GDP shows increase

BAKU, Azerbaijan, Apr. 10

By Eldar Janashvili - Trend:

The gross domestic product (GDP) in Azerbaijan in real term increased by 2.2 percent in 2019 compared to 2018, amounting to 81.7 million manat ($48 million), Trend reports citing the report on the activities of the Cabinet of Ministers.

According to the report, the GDP per capita increased by 1.4 percent in 2019 and amounted to 8,247 manat ($4,851) compared to $4,797 in 2018.

Meanwhile, the specific share of the oil and non-oil sectors in GDP amounted to 38.3 percent and 61.7 percent, respectively.

The GDP in all fields of the non-oil sector, excluding construction sector, increased by 14.9 percent. The GDP in construction sector decreased by 6.1 percent.

In particular, high growth was observed in the following areas: information and communications - by 15.9 percent, agriculture, forestry and fishing - by 7.3 percent, hotels and catering - by 6.4 percent, trade and repair of vehicles - by 3.6 percent, taxes by 3.2 percent, transport and barn storage by one percent, while others by 3.3 percent.

The growth rate of consumer price index amounted to 2.6 percent; food, drinks and tobacco products - 3.8 percent; non-food products - 1.2 percent; and paid services to the population - 2 percent.

The producer price index of manufacturing products increased by 6.9 percent in 2019 compared to 2018, and the producer price index of agricultural products - by 4.4 percent.

(1 USD = 1.7 AZN on Apr. 10)

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Follow the author on Twitter: @eldarjanashvili

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