General economic situation in Azerbaijan (January-February 2011)

In January-February 2011, the Gross Domestic Product (GDP) of Azerbaijan increased 1.4% as compared to the same period of 2010 and made up 6 .7 bln manat. The amount of the GDP per capita composed AZN 745.8 ($ 936.4 ).

Production of GDP in non-oil sector in January-February 2011 increased by 3.8 percent, making up 40.9 percent of GDP, 51.5 percent accounted for oil and gas sector, 7.6 percent of value added price created at the expense of the net taxes on production and imports.

Total production in all sectors of the economy decreased 1.7%, amounting to 64.1% of GDP where 56.6% of GDP (3.79 billion manat) falls on the industry. In services, production of added value price increased by 8.3% to 28.3% 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

6711 , 5



production of goods





- industry




- agriculture




- construction




Production of services





- transport




- communications




- housing and communal service




- trade and repair




- social and different services




Net taxes on products






Source: State Statistics Committee

In January-February 2011, the amount of industrial production in Azerbaijan composed AZN 4.9 billion, which is 0.2% less than January 2010.

In January-February 2011, industrial production in the public sector amounted to 80.7% with an increase of 2.1 percent on an annualized basis. About 92 percent accounted for manufacture of industrial products and 8.0 percent for industrial services. Production in non-oil sector increased 8.9 percent.

During the reported period, the volume of production in the extractive industry increased by 0.4 percent, reaching 3.6 billion manat with weight of 74.3 percent of all industrial production. The volume of oil during the period totaled 7.9 million tons and natural gas production - 4.1 billion cubic meters.

The amount of production in processing industry amounted to 926.7 million manat, decreasing by 2.9 percent. In January-February, a significant increase was recorded in the production of motor vehicles, trailers and semi-trailers (27.2 times), the production of electrical equipment (2.6 times), metallurgy (68.7 percent), chemical industry (88 percent).

In Azerbaijan, in January-February 2011, agricultural production grew by 5.8 percent. Forestry and fishing enterprises in the country in January-February 2011 produced products amounting to 237,000 manat and 21,360 manat respectively.

In January-February 2011, Azerbaijan's foreign trade turnover with 102 countries comprised $4717.1 million or an increase of 23.70 percent compared to January-February 2010. The amount of export increased by 9.20% as compared to last year and comprised $3389.6mln, while import increased 87.15%, totaling $1327.5mln. Azerbaijan exported 775 types of goods and imported 3,833. During the reported period, the indicator of export exceeded the indicator of import and thus, the black ink of import-export operations amounted to $2062.1mln.

Nearly 1120.3mln manat was invested in the economy of Azerbaijan in January-February 2011, a decrease of 1.7% from the figures of the same period of the last year. Especially, in February 2011, 688.3 million manat was invested in Azerbaijan's economy, which is 14.8 percent more than investments in February 2010.

In January-February 2011, a rise of the retail goods turnover got restored amid continuing rise of the community services and was 8.3%. The amount of retail goods turnover comprised 3.1bln. In February 2011 , the prices for consumer goods and tariffs for services rose 2.2 percent compared with the previous month, and compared to January-February 2010 grew by 8.9 percent in 2010.

According to the data provided by the State Statistics Committee of Azerbaijan, in January-February 2011, the nominal income of the population totaled AZN 4158.4m illion which is 14.5% more as compared to January-February 2010. Thus, during this period, the nominal income of the population per capita increased by 13 percent to 462.1 manat. Thanks to the socially oriented programs and government decrees, the rate of income growth surpassed last year's growth rate for this indicator. So, in January-February 2010, the nominal income rose by 4.3 percent, while per capita income by 3.1 percent.

In January-February 2011, the average rate of manat to the U.S. dollar was 0.80 manat per dollar, the euro, - 1.09 manat per euro, the Russian ruble - 2.72 manat per 100 ruble.

Azerbaijani journalists view State Border Service's Military Hospital in liberated Gubadly (PHOTO)
Azerbaijani journalists view State Border Service's Military Hospital in liberated Gubadly (PHOTO)
Azerbaijan's ADIF continues compensating depositors of closed banks
Azerbaijan's ADIF continues compensating depositors of closed banks
OPEC marks increase in Baku-Tbilisi-Ceyhan  oil exports
OPEC marks increase in Baku-Tbilisi-Ceyhan oil exports
Loading Bars
Bahar Azadi gold coin price continues to rise in Iran
Foreign investors waiting for decision related to FATF in Iran – official
Azerbaijani journalists view State Border Service's Military Hospital in liberated Gubadly (PHOTO)
Demand for OPEC crude in 2021 revised up
Turkish export of electrical goods to Azerbaijan drops
Shares of Kazakhstan's KAZ Minerals delisted from stock exchange
Export Development Bank of Iran to provide loans to startup companies
Data on cargo shipment through Turkish Kocaeli port over 1Q2021 revealed
Kazakhstan reports increase in new housing prices
Azerbaijan's ADIF continues compensating depositors of closed banks
Turkey sees increase in cement exports to Georgia
Cargo movements in Iran’s Shahid Rajaee port increase
OPEC marks increase in Baku-Tbilisi-Ceyhan oil exports
Guaranteed wheat purchasing from farmers in Iran continues
Iran to inaugurate new airport in Kurdistan Province
Iran to build new factory at Amirabad port
OPEC revises up forecasts for Azerbaijan’s liquids supplies in 2021
Azerbaijan reveals number of vaccinated citizens for May 11
Azerbaijan confirms 514 more COVID-19 cases, 1,306 recoveries
Iran reveals COVID-19 data for May 11
Iran’s PMO unveils volume of cargo transportation via Abadan Port
Iran shares unemployment data
Georgia export to Germany increased by 40%
Uzbekistan, Kyrgyzstan eye accelerating implementation of roadmap for industrial co-op
FDA to attract funds to support reforms in Uzbekistan
Uzbek-Chinese JV opens tender for spares for gas pumping units
Iran starts mass production of coronavirus vaccine
Russia boosts steel imports from Turkey
Volume of cargo shipment via Turkish Karabiga port in 1Q2021 revealed
Renewables to account for 90% of total global power capacity increases in 2021-2022
Annual renewable capacity additions reach highest level since 1999
Oil dips as pipeline outage fears ease, India weighs
First batch of Sputnik V vaccine arrived in Azerbaijan just a few days ago, more significant shipments expected later this month - Russian FM
Statements reeking of revanchism, are very dangerous, first of all for Armenian side - President Aliyev
Restriction on movement likely to ease in late May in Georgia
Since end of hostilities, we transferred all prisoners of war - President Aliyev
Azerbaijan shows goodwill in matters related to humanitarian issues - President Aliyev
Post-conflict situation, of course, dictates need for closer contacts at all levels - President Aliyev
Heroization of Nazism in all its forms - unacceptable - Azerbaijan FM
Gaza escalation weighs on shekel
Issue of unblocking transport in region must be prioritized - Azerbaijani FM
Humanitarian issues must be resolved as quickly as possible - Russian FM
Russian FM notes key factor in normalizing situation in Karabakh
Russia highly appreciates work of trilateral group of deputy prime ministers of three countries - Russian FM
Azerbaijan committed to fulfilling its obligations under trilateral agreement - Azerbaijani FM
Nine killed in Kazan school shooting
Second batch of Sputnik V vaccine to be delivered to Azerbaijan by late May - Russian FM
FMs of Azerbaijan, Russia sign plan of consultations for 2021-2022 (PHOTO)
Azerbaijan condemns all terror acts - Azerbaijani FM
Uzbekistan reveals number of vaccinated people
Uzbekistan considers attracting French companies to partake in state assets privatization
Uzbekistan signs memorandum of understanding with French Rothschild & Cie
Uzbekistan reveals numbers of companies with dominant position in market
Uzbekistan taking measures to improve availability of public services
Iran and India trade declines due to COVID-19
Azerbaijani president congratulates Azerbaijani people on Ramadan holiday
Armenian railways are owned by Russian railways, therefore, we are discussing issue mainly with Russian side - President Aliyev
Indian Army sets up 100-bedded hospitals in Faridabad, Chandigarh, Patiala
Indian FY22 growth may slip to 8.2%: Crisil
Twitter Donates $15 Million For COVID-19 Relief In India
President Ilham Aliyev criticizes statements of Canada's, France's MFAs: Let them mind their own business
Startups fight COVID-19: How healthtech startup Meddo is helping tackle the hospital bed crisis
Outpouring of support from US for India, Covid-19 help touches USD half a billion
Zangazur corridor must and will be opened - President Aliyev
PFPA-Musavat duo mobilized all their resources to overthrow Heydar Aliyev in Nakhchivan - President Aliyev
This visit to Nakhchivan has great symbolic meaning - President Aliyev
President Aliyev warns revanchists in Armenia: They shouldn’t play with fire
Military equipment available to Nakhchivan Army today probably superior to equipment of some advanced countries - President Aliyev
Russian FM visits tomb of National Leader Heydar Aliyev
There is no territorial unit called Nagorno-Karabakh in Azerbaijan - President Aliyev
Iran and Serbia plan to develop trade ties
Azerbaijani, Russian delegations holding meeting in expanded composition
Value of exports from Azerbaijan to UK soars
FMs of Azerbaijan, Russia begin one-on-one meeting
Queen Elizabeth to set out UK government's post-pandemic agenda
Uzbek-Chinese JV opens tender for calibration of ultrasonic flowmeters
Australia's Victoria on alert after first COVID-19 case in two months
Central Bank of Azerbaijan makes allocations to support credit register system
Kazakhstan sees increase in trade with Iran despite COVID-19
Kazakhstan boosts exports to Georgia multifold
Turkey reveals 1Q2021 data on cargo movement via local ports from Russia
Baku welcomes UNESCO mission to assess cultural heritage of Karabakh - Azerbaijani MFA
Iranian currency rates for May 11
Kazakhstan’s Intergas Central Asia company opens tender for feasibility study dev't
TAP to open tender for purchase of gas for fuelling compressor stations
UN says Europe needs more efficient mechanisms to handle migrant arrivals
Amazon raises $1 billion sustainable bond for climate
Latest prices for Azerbaijani oil disclosed
Azerbaijan boosts import of coffee, tea
SOCAR’s Petkim extends time of repaying receivables
Central Bank of Azerbaijan releases 1Q2021 net external assets of local commercial banks
Uzbekistan reveals COVID-19 data for May 11
Turkey unveils volume of goods handled through Bandirma port in 1Q2021
Turkey publishes 1Q2021 data on cargo movement via Izmir port
Number of ships received at Turkish Ambarli port in 1Q2021 revealed
Turkey confirms 13,604 new COVID-19 cases
Kyrgyzstan introduces state regulation of prices for vegetable oil and sugar
Immunization Technical Advisers of Georgia hope WHO to authorize Sinovac
Envoy: Iran supports Afghan peace process
TRACECA Permanent Representative talks cargo traffic growth on Azerbaijani section
All news