The socio-economic results of the first quarter of 2012 were favorable for Azerbaijan. Macroeconomic indices demonstrated a positive growth. Non-oil industry of the country showed a record high growth rate. This testifies to the implementation of the objectives set for the economy. At present, large industrial enterprises are under construction. They will make greater contribution to the development of Azerbaijan's non-oil industry in the future.
According to the Azerbaijani State Statistics Agency, Azerbaijan's GDP increased by 0.5 percent (50.7 million manat) and hit 12.3 billion manat in the first quarter of 2012 compared to the same period of 2011.
Non-oil GDP increased by 7.7 percent and hit 40.7 percent of GDP compared to the same period of 2011.
Nominal GDP growth hit 9.8 percent in Jan.-March compared to the same period of 2011. The GDP volume per capita amounted to 1.346.1 manat ($1.712.5).
Net taxes on products and import increased by 19.2 percent and hit 802.4 million manat or 6.5 percent of GDP.
The significant growth was observed in almost all sectors of the economy.
Added value worth 294.9 million manat or 2.4 percent of GDP was generated in agriculture, fisheries and forestry in the first quarter, 599.2 million manat (4.8 percent) in the construction sector, 804.3 million manat (6.5 percent) - in the trade and repair of vehicles, 553.9 million manat (4.5 percent) - in the transport and warehousing, 194.4 million manat (1.5 percent) - telecommunications and information, 169 million manat (1.3 percent) - tourist accommodation and catering, 1.332.8 billion manat (10.8 percent) - social support and other services.
The total volume of production in all sectors of the economy increased by 9 percent and amounted to 8.43 billion manat compared to the same period of 2011. The major part - 61.3 percent of GDP (7.5 billion manat) falls to the industry. The value-added production in the sphere of services increased by 5.8 percent and amounted to 3.054 billion manat compared to 2011.
Net taxes on products and imports increased by 8.2 percent and amounted to 2.98 billion manat or 6 percent of GDP.
|
Value added price in mln manat |
Special weight, in % |
Rise in % compared to the period of last year |
|
|
GDP in total |
12289,1 |
100,0 |
100,5 |
|
production of goods |
8432,3 |
68,6 |
98,0 |
|
including - industry |
7532,2 |
61,3 |
97,1 |
|
- agriculture |
294,9 |
2,4 |
103,2 |
|
- construction |
599,2 |
4,9 |
106,8 |
|
Production of services |
3054,4 |
24,8 |
105,5 |
|
including: - transport |
553,9 |
4,5 |
101,3 |
|
- communications |
194,4 |
1,6 |
108,0 |
|
- tourism and public food facilities |
169,0 |
1,3 |
116,9 |
|
- trade and repair |
804,3 |
6,5 |
109,3 |
|
- social and other services |
1332,8 |
10,8 |
103,6 |
|
Net taxes on products |
802,4 |
6,5 |
106,7 |
|
Defliator |
109,3 |
||
Source: the Azerbaijani State Statistics Committee
In the first quarter of 2012, the amount of industrial production in Azerbaijan hit 9.4 billion manat, which is 0.3 percent less than the same period of 2011.
The share of non-state sector hit 82.5 percent of the total industrial production compared to the same period of last year. About 92.5 percent accounted for manufacture of industrial products and 7.5 percent for industrial services.
Production in non-oil industrial sector increased by 16.5 percent.
During the reported period, the volume of production in the extractive industry decreased by 3.6 percent, reaching 7.3 billion manat with weight of 78.3 percent of all industrial production. The volume of oil extracted during the period decreased by 5.7 percent and hit 11.3 million tons and natural gas production - by 14.6 percent and hit 4.6 billion cubic meters.
The production volume in the manufacturing industry amounted to 1.49 billion manat, increasing by 3.6 percent. The significant growth was observed in the production of the food industry by 16.8 times and amounted to 21.9 per cent of the total volume of manufacturing industry.
The food production increased by 5 percent (21.9 percent). Production of sausage products in the country increased by 2.3 percent, amounting to 741.5 tons, butter - 1.1 percent (5,400 tons), vegetable oil - by 57.2 percent (13,500 tons), margarine - by 1.6 times (7,000 tons).
In the first quarter of 2012, the steel industry and the Azerbaijani enterprises of finished metals produced goods and rendered services worth 107 million manat. The volume of production in the metallurgy decreased by 6.5 percent, and the production of finished goods increased by 2 times.
In the first quarter of 2012, Azerbaijan reduced gold production by 29.3 percent, silver production - by 41.8 percent. In Jan.-March the country produced 547.5 kg of precious metals (262 kg in Jan., 135.8 kg in Febr. and 149.7 kg in March), or 38.8 percent less than their production in the same period of 2011. Bad weather conditions in winter influenced the decrease in the production.
In the first quarter of 2012 the value of agricultural production in constant prices increased by 3.2 percent compared to 2011 and amounted to 497.2 million manat, including crop production - by 6.4 percent, animal husbandry - 3.2 percent.
In the first quarter of 2012 foreign trade turnover with 118 world countries amounted to $7.895 billion, or 7.6 percent more than last year. The volume of exports increased by 7.7 percent and hit $ 5.84 billion compared to Jan.-March 2011. The volume of imports increased by 8.55 percent and amounted to $2.054 billion. Azerbaijan exported 998 kinds of goods and imported 4,684 kinds of various goods. As of the first quarter of 2012, the exports exceeded the imports. This formed black ink in the foreign trade worth $3.79 billion.
In the first quarter of 2012, about 2.099.4 billion manat were invested from all financial sources to develop the economic and social spheres in Azerbaijan, or 6.5 percent more than in 2011. In particular, about 903 million manat was invested in the Azerbaijani economy in March 2012, or 22.5 percent more than investments in main capital in March 2011.
In the first quarter of 2012 Azerbaijani trade networks sold goods to the amount of 4.126.4 billion manat, or 9.3 percent more compared to January-March 2011 to the population. Legal entities and individual entrepreneurs ensured 46.0 percent of trade turnover, while fairs and markets - 41.5 percent. The share of private sector amounted to 99.5 percent in the retail trade turnover. The population bought consumer goods worth 4.104.4 billion manat, or 9.4 percent more than in the corresponding period of last year in January-March.
In March 2012 the prices on consumer goods and tariffs for services increased by 0.3 percent compared to the previous month. They increased by 3.1 percent in the first quarter of 2012 compared to the first quarter of 2011.
According to the Azerbaijani State Statistics Committee, in the first quarter of 2012 nominal income of the Azerbaijani population totaled 7.231.6 billion manat, or 13.9 percent more than in 2011. During this same period, nominal income per capita increased by 12.3 percent and amounted to 492.1 manat.
The growth rate of income per capita exceeded the growth in consumer prices by 9.2 percent. Regarding opening the jobs, about 24,000 new jobs were opened in the first quarter, of which about 20,000 - are constant.
In the first quarter, the profitable part of the state budget was fulfilled by 98.5 percent or 719.3 million manat (26 percent) more compared to the same period of last year. The supply in the state budget in the first quarter was executed by 79 percent or 755.8 million manat (36.2 percent) more compared to the same period of last year.
The rate of manat maintained stable. In the first quarter of 2012 the average exchange rate of manat to the U.S. dollar was 0.79 manat per dollar, compared to the euro - 1.04 manat per euro, compared to the Russian ruble - 2.61 manat to 100 rubles.