In January-August 2010, the Gross Domestic Product (GDP) of Azerbaijan increased 3.8% or 830.9mln manat as compared to the same period of 2009 and made up 26.2bln manat. The amount of the GDP per capita composed AZN 2,939 ($3657.7), an increase of 2.7% compared to the same period of 2009.
51.6% of value added price was created due to net taxes from the production and import. 51.6% of value added price was created in the oil sector, 41.9% - non-oil sector and 6.5% - at the expense of net taxes on products and imports. Value added price in non-oil sector has increased by 4.5% compared to the same period of last year.
Total production in all sectors of the economy increased 2.4%, amounting to 66.6% of GDP, where 55.1% of GDP (14.4 billion manat) falls on the industry. In services, production of added value price increased by 6.2% to 26.9% of GDP compared to the same period of last year.
|
Value added price in mln manats |
Special weight, in % |
Real rise, in % |
|
|
GDP in total |
26189,6 |
100,0 |
103,8 |
|
production of goods |
17450,0 |
66,7 |
102,0 |
|
including - industry |
12846,8 |
49,1 |
102,4 |
|
- agriculture |
1226,1 |
4,7 |
93,2 |
|
- construction |
1781,1 |
6,8 |
105,1 |
|
Production of services |
7033,8 |
26,9 |
106,2 |
|
Including: - transport |
1642,0 |
6,3 |
103,9 |
|
- communications |
531,0 |
2 |
132,9 |
|
- trade and repair |
1748,7 |
6,7 |
104,5 |
|
- social and different services |
2810,1 |
10,7 |
103,1 |
|
Net taxes on products |
1705,8 |
6,5 |
105,8 |
|
Defliator |
116,8 |
Source: State Statistics Committee
In January-August 2010 the amount of industrial production in Azerbaijan composed AZN 18.3 billion, which is 3.8% more than January-August 2009.
The amount of production in the extractive industry reached AZN 14.0bln (76.5% of the gross industrial production), increasing by 2.2% as compared to the same period of the last year. The specific weight of processing industry was 18.3 percent, electricity, gas and water sectors accounted for 4.7 percent.
The total production in all spheres of crop production fell by 14.2 percent, but animal production rose 5.2 percent in January-August 2010 compared to the same period of last year, in Azerbaijan.
In January-August 2010, Azerbaijan's foreign trade turnover with 139 countries comprised $17971.4 million. The amount of export increased by 62.46% as compared to last year and comprised $13948.8mln, while import increased 4.11%, totaling $4022.5mln. Azerbaijan exported 1,822 types of goods and imported 5,533. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $9926.3mln.
Nearly 5218.1mln manat was invested in the economy of Azerbaijan in January-August 2010, an increase of 11.3% from the figures of the previous year. Especially, in August 650.7mln manat was invested in Azerbaijan's economy, which is 35.7% more than investments in the main capital in August 2009.
In January-August 2010, a rise of the retail goods turnover got restored amid continuing rise of the community services and was 8.8%. The amount of retail goods turnover comprised AZN 11298.0mln. In particular, 71.5% accounted for retail trade, 28.5% - paid services.
In January-August, the prices for consumer goods and tariffs for services rose 0.7 percent compared with the previous month, and compared to January-August 2009 grew by 5.0 percent. The prices for food products in August rose 1.0 percent compared to July, non-food products rose 0.2 percent, and tariffs for service rose 0.2%.
In January-August 2010, the nominal income of the population totaled AZN 15832.8 million which is 11.0% more as compared to January-August 2009. During this period, the nominal per capita income made up AZN 1776.8, which exceeds the figure in 2009 by 9.8%. The rise in salaries in various spheres of economy and rise in social benefits also contributed to the growth in population income. However, despite the growing indicators, the growth rate of population's incomes has declined. Thus, in January-August 2009 the nominal income of the population compared to the same period of 2008 grew by 12.6 percent and per capita income - by 11.2 percent.
In 2010 the Central Bank of Azerbaijan continues the policy of maintaining the stable exchange rate of manat, which during the crisis made the main anchor of economic stability, unlike national currencies of other countries. In the post-crisis period, to accelerate economic development and eliminate the consequences of the crisis, the country will also need stable manat.
In August, the rate of manat in relevant to the USD composed 0.80 manat, Euro - 1.04 manat, Russian ruble - 2.65 manat for 100 rubles.