In January to November 2009, the Gross Domestic Product (GDP) of Azerbaijan increased 9.0% as compared to the same period of 2008 and made up AZN 29.7bln. The amount of the GDP per capita composed AZN 3360.7 ($4181.0), an increase of 7.6% compared to the same period of 2008. The rate of economic growth was 2.5% lower as compared to the same period of the last year (11.5%).
The drop in the rates of economic growth can be explained not only through the reduction of growth rates in the attracted investments, but also in cargo transportations, paid services to population, agriculture. The reduction in growth rate was observed in the investments in the main capital - 42.4%, transportation - 7.4%, communication services - 16.9%, in retail trade - 7%, paid services to the population - 17.3%, in agriculture - 2.9% and in the monetary income of the population - 29.8%.
The amount of the production in all spheres of the economy increased 10.5% and made up 64.5% of the GDP where 50.5% (AZN 15000.6mln) fell on industry. The specific weight of the service sector in the GDP made up 27.9%. Net taxes from the production and import made up 6.9% in the GDP.
|
Value Added Price In mln manats |
Special weight, in % |
Real rise, in % |
|
|
GDP in total |
29654,2 |
100,0 |
109,0 |
|
production of goods |
19137,1 |
64,5 |
110,5 |
|
including - industry |
15000,6 |
50,5 |
113,7 |
|
- agriculture |
1723,8 |
5,8 |
103,3 |
|
- construction |
2412,7 |
8,1 |
88,8 |
|
Production of services |
8270,8 |
27,9 |
106,7 |
|
Including: - transport |
1821,5 |
6,1 |
107,7 |
|
- communications |
590,9 |
1,99 |
112,8 |
|
- trade and repair |
2031,3 |
6,8 |
108,4 |
|
- hotels and restaurants |
302,7 |
1,02 |
116,7 |
|
- social and different services |
3524,4 |
11,8 |
103,5 |
|
Net taxes on products |
2046,3 |
6,9 |
99,8 |
|
Defliator |
74,5 |
Source: State Statistics Committee
In January to November 2009 the amount of industrial production in Azerbaijan composed AZN 19841.3mln, which is 8.2% more than January - November 2008.
The amount of production in the extractive industry reached AZN 15.0bln (75.5% of the gross industrial production), increasing by 12.4% as compared to the same period of the last year. The growth rate in the processing industry declined 7.6%, composing 19.2% and in power engineering, gas and water sectors - 9.8%, composing 5.3%. The growth in the oil production was 13.5% and in gas production - 2.3%.
The production in processing industry amounted to 3.81 billion manat. During the reported period, significant growth was observed in food production. The production of sugar in the country increased by 2.8% to 262,800, tea - 21.8% (7,100 tons), meat - 8.3% (153,700 tons), milk - 3% (48.5 million deciliter), sparkling wines - 21.6 percent (37,700 deciliter), beer - 10.1% (3.5 million deciliter), vodka - 12.2% (768,300 deciliter).
Growth in the agrarian production because of State care for the farmers was 3.9% in January to November 2009. During this period, the volume of agricultural production increased, including plant growing - 3.9%, livestock - 2.4%.
Reduction was observed in import and export operations. Azerbaijani export decreased 71.97% to $13165.5mln and import - $5448.7mln (a decrease of 16.17%), and the black ink reached $7716.8mln. Nearly 91.6% of the export operations fell on oil and oil products.
Nearly AZN 6444.4mln was invested in the economy of Azerbaijan in January to November 2009, a decrease of 19% from the figures of the last year. In particular, in November 2009 AZN 521.7mln was invested in the economy of Azerbaijan, which is 0.13% less than last year.
In January-November 2009, the growth in the amount of retail commodity turnover and commercial services to the population increased by 9.7% and totaled AZN 14085.8 million in the annual calculation. In particular, 74.5% accounted for retail trade and 25.5% - paid services.
In November 2009, the prices of the consumer goods and tariffs on the services increased 1.3% compared with October 2009, but rose 1.5% in January to November 2009 compared to the same period of the last year. Over the reported period, the prices for foodstuffs increased 1.4%, non-foodstuffs - 0.7% and the services - 1.3%.
In January to November 2009, the nominal income of the population totaled AZN 19816.2mln, which is 7.6% more compared to 2008. During this period, the nominal income per capita made up AZN 2245.8, which exceeds the figure in 2008 by 6.2%. The rise in salaries in various spheres of economy and rise in social benefits also contributed to growth in population income.
During January-November 2009, the national currency of Azerbaijan, manat, maintained its stability on the backdrop of the devaluation of national currencies in several neighboring countries. As a result of November, the exchange rate of the national currency with respect to the USD increased 8 points. The rate of the USD in Azerbaijan during the month decreased from 0.8032 AZN/USD to 0.8024 AZN/USD. The rate of EUR increased in Azerbaijan in November. During the reported period, the rate of Euro in Azerbaijan increased 203 points (from 1.1927 AZN/EUR to 1.213 AZN/EUR).
In November the rate of manat in relevant to the USD composed 0.80 manat, Euro - 1.20 manat, Russian ruble - 2.79 manat for 100 rubles.