General economic situation (26.10- 31.10.2009)

In January to September 2009, the Gross Domestic Product (GDP) of Azerbaijan increased 6.1% and made up AZN 23.4bln. The amount of the GDP per capita composed AZN 2657.7 ($3305.6), a decrease of 25.2% compared to the same period of 2008. The rate of economic growth was 8.7% lower as compared to the same period of the last year (115.0%). 

The drop in the rates of economic growth can be explained not only through the reduction of growth rates in the industry, but also in cargo transportations, paid services to population, attraction of investments and agriculture. The reduction is observed almost in all macroeconomic indices, including in the industry - 7%, transportation - 9%, communication services - 19.8%, in retail trade - 7%, paid services to the population - 17.2%, investment in main capital - 55.1%, in agriculture - 5.4% and in the monetary income of the population - 26.2%.

The amount of the production in all spheres of the economy made up 64.0% of the GDP where 49.9% (AZN 11692.0mln) fell on industry. The specific weight of the service sector in the GDP made up 28.6%. Net taxes from the production and import made up 7.3% in the GDP.   

In January to September 2009, 5.0 percent growth of production was observed in the non-oil sector, which increased its share in GDP to 66.7 percent.

Value Added Price 

In mln manats

Special weight, in %

Real rise, in %

GDP in total




production of goods 





- industry




- agriculture 




- construction




Production of services





- transport




- communications




- trade and repair




- hotels and restaurants




- social and different services




Net taxes on products






Source: State Statistics Committee

In January to September 2009 the amount of industrial production in Azerbaijan composed AZN 15624.9mln, which is 5.0% more than January - September 2008. The reduction in the indices in the industry is explained firstly through the reduction of production in extractive industry, secondly through the reduction in the production of sewn and knitted wares (13.4%), shoes (13.6%), metallurgical industry (56.8%), oil products (9.1%), chemical production (43.3%). In general, 7.0% drop was recorded in January to September 2009 in the processing industry.

The amount of production in the extractive industry reached AZN 11651.1mln (74.6% of the gross industrial production), in the processing industry (19.9%) - AZN 3117.9mln, and in power engineering, gas and water sectors (5.5%) - AZN 855.9mln.

The growth in the oil production was 8.5% and in gas production - 0.6%.

The specific weight of the industrial production and services in the private sector made up 79.2% (AZN 12.4bln). Reduction in public sector was 7.9%, but 8.9% growth was recorded in the private sector.   

Growth in the agrarian production because of State care for the farmers was 4.0% in January to September 2009. During this period, the volume of agricultural production increased 2.9%, including plant growing - 3.3%, livestock - 2.2%.

Reduction was observed in import and export operations. Azerbaijani export decreased 74.37% to $9986.7mln and import - $4369.2mln (a decrease of 16.49%), and the black ink reached $5617.5mln. Nearly 91.6% of the export operations fell on oil and oil products.

Nearly AZN 5199.4mln was invested in the economy of Azerbaijan in January to September 2009, a decrease of 17.1% from the figures of the last year. In particular, in September 2009 AZN 636.9mln was invested in the economy of Azerbaijan, which allowed to talk about the continued growth after 24.4 percent drop of investments in January.

In January-September 2009, the growth in the volumes of retail commodity turnover and commercial services to the population increased by 9.6% and totaled AZN 11270.3 million in the annual calculation. In particular, 69.1% accounted for retail trade and 30.9% - paid services.

In September 2009, the prices of the consumer goods and tariffs on the services increased 0.4% compared with August 2009, but rose 2.1% in January to September 2009 compared to the same period of the last year. Over the reported period, the prices for foodstuffs increased 0.4%, non-foodstuffs - 0.1% and the services - 0.4%.

In January to September 2009, the nominal income of the population totaled AZN 16082.6mln, which is 9.8% more compared to 2008. During this period, the nominal income per capita made up AZN 1824.5, which exceeds the figure in 2008 by 8.4%. The rise in salaries in various spheres of economy and rise in social benefits also contributed to growth in population income.

During January-September 2009 the national currency of Azerbaijan, manat, maintained its stability against the background of the devaluation of national currencies in several neighboring countries. As a result of September, the exchange rate of the national currency with respect to the USD increased 4 points. The rate of the USD in Azerbaijan during the month decreased from 0.8039 AZN/USD to 0.8035 AZN/USD. The rate of EUR increased in Azerbaijan in September. During the reported period, the rate of Euro in Azerbaijan increased 205 points (from 1.1540 AZN/EUR to 1.1745 AZN/EUR).

In September the rate of manat in relevant to the USD composed 0.80 manat, Euro - 1.17 manat, Russian ruble - 2.61 manat for 100 rubles.

Kazakhstan's revenues from road cargo transportation down
Kazakhstan's revenues from road cargo transportation down
Kazakhstan decreases import of Ukraine-made goods y-o-y
Kazakhstan decreases import of Ukraine-made goods y-o-y
Kazakh national atomic company's subsidiary opens tender to buy compressors
Kazakh national atomic company's subsidiary opens tender to buy compressors
Loading Bars
Iraq reports 6,552 new COVID-19 cases, 970,987 in total
More than 805,000 COVID-19 infections detected worldwide over past 24 hours
5.1-magnitude quake hits 20 km S of Mandraki, Greece
Israel reports 142 new COVID-19 cases, 836,882 in total
Yemen's Houthi rebels say launch drone attack on Saudi air base
India's sports minister tests positive for COVID-19
Weekly review of highlights in Azerbaijan's transport sector
EU to hand over 30 vehicles to Georgia Border Police
Turkish scientist works on drug that can ‘kill COVID-19 in 2 days’
Uzbekistan may start production of its own vaccine against COVID-19 by the end of the year
Russia's Eastwind, Turkmenistan's Turkmensvyaz to sign contract
UK records another 2,206 coronavirus cases, 35 deaths
Iranian official offers upbeat assessment of progress in nuclear talks
Volume of goods transported by Azerbaijan’s vehicles in 2021 disclosed
Indonesia reports 5,041 new COVID-19 cases, 132 new deaths
Global COVID-19 deaths surpass 3 mln - Johns Hopkins University
Geostat reveals volume of Russian exports to Georgia
Solar panel station put into operation in Iran’s Razavi Khorasan Province
New auction to be held for Azerbaijani Finance Ministry's mid-term bonds
Georgia increases import of vehicles from Turkey
Kyrgyzstan imposes restrictive measures at airports
Bahar Azadi gold coin price rebounds in Iran
Foreigners to pass simplified visa procedures for 2021 F1 Azerbaijan Grand Prix
Serbian FM to visit Tehran today
Azerbaijan discloses number of COVID-19 vaccinated citizens
Azerbaijan confirms 2,148 more COVID-19 cases, 2,287 recoveries
Armenia falsified Caucasian Albania temples in Azerbaijan - rep of religious community
Iran to send trade attaché to Azerbaijan
Weekly review of major events in Azerbaijan's oil & gas sector
Azerbaijan shares footage from Jabrayil's Dash Veysalli village (VIDEO)
Armenia strived to create history for itself in Azerbaijan's lands - Head of Albanian-Udi community
Iran reveals COVID-19 data for April 17
Volume of loaded and unloaded cargo in Iran’s Charak port climbs
Azerbaijani oil prices on rise
VICE News report on Armenia's attack on Azerbaijani Barda nominated for award
Weekly review of main events in ICT sector of Azerbaijan
Earnings from fuel savings in Iran paid to investors
Uzbekistan's CCI, Portuguese Industrial Association establish co-op
Buy/sell operations at Iran Mercantile Exchange soar
Rosatom, Uzbekistan working on contract for building nuclear power plant
Turkmenistan to create electronic exchange database
IMF calls on Georgia to reduce capital expenditures in case of lockdown
Russia reports a new high of 9,321 coronavirus cases since March 20
Azerbaijan's Albanian-Udi Christian community members visit ancient temple in Tugh - Trend TV (PHOTO)
OSCE MG should force Armenia to follow terms of trilateral statement - Azerbaijan's Parliament
Weekly review of Azerbaijani currency market
Azerbaijan, Turkic Council discuss creation of joint digital tools
Weekly review of Azerbaijani precious metals market
EU rep should follow int'l law before meeting with separatist in Karabakh - expert
Potential areas of Turkmenistan’s interaction within Visegrad Group+Central Asia framework identified
Georgia reports 1,219 new coronavirus cases for April 17
Georgia holds auction for privatization of state property
Azerbaijani MP talks about spring session of IPA CIS held in Russia's St. Petersburg
Georgia continues to conduct research on Namakhvani HPP
Iran unveils details exports from Maragheh County
Kazakhstan reveals total number of TEU containers shipped along Aktau-Baku feeder line
There have always been good grape varieties in Pirshaghi – white and black Shani - President Aliyev
Participants of Azercell Student Bursary and Internship Programs share their success stories
Iran boosts aluminum ingots production
Azerbaijani police find mortar shells, detonators left by Armenia in Gubadly (VIDEO)
Iran declares amount of loans issued to SMEs
Kazakhstan's revenues from road cargo transportation down
Concept of ensuring security of Afghan section of TAPI signed
Members of Albanian-Udi Christian religious community of Azerbaijan visit liberated Khojavand (PHOTO)
Australia to continue review of COVID vaccinations - health minister
Italian media outlets highlight speech of Azerbaijani president at int'l conference in Baku
Kazakhstan decreases import of Ukraine-made goods y-o-y
Kazakh national atomic company's subsidiary opens tender to buy compressors
Azerbaijan sets up structure to work on urban planning in liberated lands
Kazakhstan's oil & gas company opens tender to develop consolidated time standards
Meeting of EU special rep with so-called "FM of Karabakh" promotes separatism, says Azerbaijani expert
Iranian currency rates for April 17
Iran to increase vaccinations as fourth wave of COVID-19 rises
Iran reaches target uranium enrichment
Oil demand to keep on rising in May, June 2021
Work on provision of electricity to Azerbaijan's liberated Sugovushan nearing completion
Bulgaria sees Georgia as valuable partner
Significant number of Georgian citizens register for employment program in Israel
Kazakhstan’s COVID-19 caseload up by 2,822
Ukraine receives first batch of Pfizer vaccine under COVAX initiative
IMF corrects estimate on Iran's foreign exchange bank reserves
Azerbaijan attracting foreign investments for renewable energy projects
Uzbekistan to open an embassy in Sweden
Global COVID-19 infection rate approaching highest: WHO
Portugal resumes flights to Brazil, Britain
Turkey reports over 63,000 daily COVID-19 cases
EU eyes to provide grants to Georgian non-profit organizations
Israel reports 41 new COVID-19 cases, 836,740 in total
Biden signs order keeping Trump-era refugee cap at 15,000
EU-UK trade plunges after Brexit: Eurostat
UK records another 2,596 coronavirus cases, 34 deaths
UN Security Council approves ceasefire monitors for Libya
North Macedonia vaccinates some 35,000 citizens
Raul Castro resigning from Cuba’s Communist Party
Azerbaijani IT company working on creating new network, server infrastructures
Georgian Economy Ministry to form expert council on Namakhvani HPP
Relations between Russia, Azerbaijan attain degree of strategic alliance - Federation Council Chair of Russian Federal Assembly
Turkish engineers develop fiber that kills coronavirus in minutes
Uzbekistan’s gold and foreign exchange reserves drop to $32.6 billion
Iran’s petrochemical output to reach $40b: Oil Minister
All news