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Azerbaijan records growth in GDP for 8M2021

Finance Materials 13 September 2021 14:46 (UTC +04:00)

BAKU, Azerbaijan, Sept.13

By Zeyni Jafarov - Trend:

The GDP of Azerbaijan has increased from January through August 2021, Trend reports citing the State Statistical Committee.

According to the committee, this indicator amounted to 54.7 billion manat ($32.2 billion), which is 3.6 percent more than from January through August 2020 ($46 billion manat or $27 billion).

In the first eight months of this year, GDP per capita in Azerbaijan amounted to 5,466.1 manat ($3,220), up by 18.5 percent compared to the same period of last year (4,611.7 manat or $2,710), the committee said.

During the specified period, value-added in the oil sector decreased by 1.2 percent, while in the non-oil sector - increased by 5.7 percent.

The share of industry in the structure of Azerbaijan's GDP amounted to 40.4 percent from January through August 2021, which is 5.2 percent more compared to the same period of 2020.

Meanwhile, 10.4 percent fell on trade and repair of vehicles (decrease by 0.8 percent), 7.2 percent - on transport and storage facilities (a decrease by 0.4 percent), 6.5 percent - on agriculture, forestry, and fish farming (down 07 percent), five percent – on construction (decline of 1.1 percent).

More than one percent in the GDP structure accounted for the sphere of tourist accommodation and personal services (decrease of 0.2 percent), 1.8 percent - for the sphere of information and communication (also down 0.2 percent), and 18.4 percent - for the share of other sectors economy (decline of 0.6 percent).

In the first eight months of this year, net tax revenues from imports of products in the specified period amounted to 9.2 percent of GDP, decreasing by 1.2 percent on annual basis.

(1 USD = 1.7 AZN on Sept.13)

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