Azerbaijan's GDP decreases marginally

Finance Materials 19 August 2020 16:06 (UTC +04:00)
Azerbaijan's GDP decreases marginally

BAKU, Azerbaijan, Aug. 19

By Eldar Janashvili –Trend:

Azerbaijan's GDP decreased by 2.8 percent from January through July 2020 compared to the same period of 2019, having surpassed 40 billion manat ($23.5 billion), Trend reports citing a report of the State Statistical Committee.

In the oil and gas sector of the country’s economy, the value added declined by 1.6 percent, and in the non-oil sector - by 4.5 percent, noted the committee.

In the structure of GDP, 35.3 percent fell on industry, 11.2 percent - on trade and repair of vehicles, 7.5 percent - on transport and warehousing, 7.1 percent - on agriculture, forestry and fish farming, 6.3 percent - on construction, two percent - on information and communication, 1.4 percent - on hotel business and catering, 19 percent - on the share of other sectors of the economy, and net tax revenues from imports of products amounted to 10.2 percent of GDP.

Reportedly, GDP per capita in the country amounted to 4,015.1 manat ($2,361.8).

(1 USD = 1.7 manat on Aug. 19)


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