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Azerbaijan sees decline in GDP

Finance Materials 15 September 2020 18:05 (UTC +04:00)

BAKU, Azerbaijan, Sept.15

By Zeyni Jafarov –Trend:

Azerbaijan's GDP decreased by 3 percent from January through August 2020 compared to the same period of 2019, having made up 45.9 billion manats ($27 billion), Trend reports referring to the State Statistics Committee.

In the oil and gas sector of the country’s economy, the drop made up 4.9 percent, and in the non-oil sector by 1.7 percent, noted the committee.

In the structure of GDP, 35.2 percent fell on the industry, 11.2 percent - on trade, 7.6 percent - on transport, 7.2 percent - on agriculture, forestry, and fish farming, 6.1 percent - on construction, two percent - on information and communication, 1.3 percent - on the 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 10.4 percent of GDP.

Reportedly, GDP per capita in the country amounted to 4,611.7 manats ($2,712.76).

(1 USD = 1.7 manat on Sept.15)

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