General economic situation in Azerbaijan (January-September 2010)

In January-September 2010, the Gross Domestic Product (GDP) of Azerbaijan increased 4.1% or 1bln manat as compared to the same period of 2009 and made up 29.3bln manat. The amount of the GDP per capita composed AZN 3286.6 ($4090.4), an increase of 2.9% compared to the same period of 2009.

51.2% of value added price was created in the oil sector, 42.3% - 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 5.2% and in oil sector - 2.7% compared to the same period of last year.

Total production in all sectors of the economy increased 2.8%, amounting to 66.6% of GDP (19.5 billion manat), where 54.4% of GDP (15.9 billion manat) falls on the industry. In services, production of added value price increased by 6.4% to 26.9% of GDP (7.9 billion manat) compared to the same period of last year. 

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




- social and different services




Net taxes on products








GDP in total


Source: State Statistics Committee

In January-September 2010 the amount of industrial production in Azerbaijan composed AZN 20.4 billion, which is 3.1% more than January- September 2009.

The amount of production in the extractive industry reached AZN 15.54bln (76.1% of the gross industrial production), increasing by 2.1% as compared to the same period of the last year. The specific weight of processing industry was 18.7 percent, electricity, gas and water sectors accounted for 4.6 percent.

The total amount of agricultural production over the nine months of 2010 was 2.894 billion manat, which is 3.4 percent less than the same period of the last year. In particular, livestock production has grown 6.2 percent, while crop production fell by 9.2 percent. The reason is the decline in grain production by 33.1 percent or 981,600 tons.

In January-September 2010, Azerbaijan's foreign trade turnover with 140 countries comprised $20212.2 million. The amount of export increased by 56.78% as compared to last year and comprised $15667.9mln, while import increased 3.81%, totaling $4544.3mln. Azerbaijan exported 1,907 types of goods and imported 5,673. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $11123.6mln. 

Nearly 6157.8mln manat was invested in the economy of Azerbaijan in January-September 2010, an increase of 15.2% from the figures of the previous year. Especially, in August 939.7mln manat was invested in Azerbaijan's economy, which is 47.5% more than investments in the main capital in September 2009.  

In January-September 2010, a rise of the retail goods turnover got restored amid continuing rise of the community services and was 8.9%. The amount of retail goods turnover comprised AZN 12.9bln. In particular, 74.6% accounted for retail trade, 25.4% - paid services.

In January-September, the prices for consumer goods and tariffs for services rose 0.9 percent compared with the previous month, and compared to January-September 2009 grew by 5.2 percent (data from State Statistics Committee). The prices for food products in September rose 1.9 percent compared to August, non-food products rose 0.5 percent, and tariffs for service declined 0.9%. 

According to the data provided by the State Statistics Committee of Azerbaijan, in January-September 2010, the nominal income of the population totaled AZN 18 billion which is 11.3% more as compared to January-September 2009. During this period, the nominal per capita income made up AZN 2016.2, which exceeds the figure in 2009 by 10%. The rise in salaries in various spheres of economy and rise in social benefits also contributed to the growth in population income. This year for the first time the growth rate of population's incomes exceeded the last year's rate. Thus, in January-September 2009 the nominal income of the population compared to the same period of 2008 grew by 9.9 percent and per capita income - by 8.5 percent.

In September, the average rate of the manat to the U.S. dollar was 0.80 manat per dollar to the euro, 1.05 manat per euro, the Russian ruble - 2.61 manat per 100 rubles.

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