For the nine months of 2012, Azerbaijan's economy has demonstrated the stability, development and sustainability. During the reporting period, non-oil sector of the economy grew by more than 10 percent, and in the last four years, share of non-oil sector in GDP increased by five percentage points.
Azerbaijan's GDP increased by 1.1 percent in nine months of 2012 compared to the same period of 2011, the Azerbaijani State Statistics Committee reported. The current price of GDP indicator reached 39.8 billion manat. Nominal GDP growth was 2 percent in January-September compared to the same period last year. In particular, in September, GDP hit 4.624 billion manat compared to 4.353 billion manat in August. In 2012, the highest level was recorded in June - 5.009 billion manat.
Azerbaijan has strengthened its position in the group of middle income countries. The GDP per capita totaled 4,340 manat ($5,522).
Value-added production in the non-oil sector grew compared to the same period last year by 10.3 per cent and hit 50.3 per cent of the GDP, while in oil sector it decreased by 6.9 percent. Thus, In January-September 2012 growth in non-oil sector of Azerbaijan was 9.36 times more than general economic growth.
According to Azerbaijan's State Statistics Committee, as of Oct.1, 2012 volume of non-oil GDP in Azerbaijan amounted to 20.016 billion manat, in particular, in September, the non-oil GDP (2.519 billion manat) was equal to 54.48 percent of the total GDP (4.353 billion manat).
During the first nine months added value in the amount of 2.4 billion manat was observed in agriculture, fisheries and forestry, which is 6.1 percent of GDP, in the construction sector - 3.9 billion manat (9.8 percent), trade and repair of vehicles - 2.7 million manat (6.7 percent), transport and warehousing - 1.9 million manat (4.7 percent), telecommunications and information - 684 million manat (1.7 percent ), tourist accommodation and catering - 529.1 million manat (1.3 percent), social support and other services - 4.8 billion manat (12.2 percent).
The total volume of production in all sectors of the economy in January-September 2012 fell by 1.1 percent compared to the same period in 2011 and amounted to 26.7 billion manat, where the major part - 51.3 percent of GDP (20.4 billion manat) accounted for industry. In services, the production of value added, compared to the same period in 2011 increased by 5.7 per cent, amounting to 10.6 billion manat.
Net taxes on products and imports increased by 7.7 percent and amounted to 2.475 billion manat or 6.2 percent of GDP.
|
Value added in mln manats |
Special weight, in % |
Growth compared to reporting period of last year, % |
|
|
GDP in total |
39760,6 |
100,0 |
101,1 |
|
production of goods |
26720,6 |
67,2 |
98,9 |
|
including - industry |
20398,5 |
51,3 |
94,1 |
|
- agriculture |
2426,9 |
6,1 |
106,3 |
|
- construction |
3895,2 |
9,8 |
127,3 |
|
Production of services |
10565,4 |
26,6 |
105,7 |
|
including: - transport |
1857,4 |
4,7 |
102,1 |
|
- communications |
684,0 |
1,7 |
116,7 |
|
- tourism and public food facilities |
529,1 |
1,3 |
116,3 |
|
- trade and repair |
2663,6 |
6,7 |
109,0 |
|
- social and other services |
4831,3 |
12,2 |
103,0 |
|
Net taxes on products |
2474,6 |
6,2 |
107,7 |
|
Defliator |
101,0 |
||
Source: State Statistics Committee
In January-September 2012, growth hit 7.7 percent in non-oil industry in Azerbaijan, while a 5.6-percent decrease was observed in oil sector.
In January-September 2012 industrial production output [produced goods and rendered services of industrial nature] in Azerbaijan amounted to 25.8 billion manat, which is 3.5 percent less than in the same period of 2011. Share of private sector compared to the same period of last year increased by 0.7 percent compared to August (2.747.7 billion manat).
The share of private sector amounted to 81.7 percent of total industrial production. At the same time 92.3 per cent accounts for the production of industrial goods, 7.7 percent - industrial services. The volume of production in the mining industry decreased by 5.7 percent, amounting to 19.7 billion manat with weight of 76.4 percent of all industrial production during the reporting period. Oil production for the period amounted to 32.8 million tones and natural gas - 12.8 billion cubic meters, gold - 1.1 tons of silver - 476.8 kilograms.
Production volume in processing industry amounted to 4.7 billion manat in January-September, increasing by 7.9 percent compared to the same period in 2011.
The production volume in manufacturing industry hit 18.3 percent of total industrial production, in electricity and gas sector - 1.229 billion manat or 4.8 percent, and the remaining volume (140.9 million manat, or 0.5 per cent) accounted for the water supply, wastewater treatment and solid waste management. Growth in power industry and gas sector hit 8.8 percent, water supply and waste disposal - 2.6 percent.
During the reporting period there was a decline in the production of motor vehicles, trailers and semi-trailers (drop by 74.1 percent), wood processing and manufacturing of wood products (31.6 percent), chemical products (16.6 percent). A 9.2-fold increase in the production of computers and other electronic equipment were observed during the reporting period, rubber and plastic products - by 2.9, electrical equipment - 2.1 times, production of furniture increased by 3.1 times.
Increase in the production of food products amounted to 7.9 percent. Sausage production increased by 0.8 percent to 1.5 million tons, oil - by 55.5 per cent (47.5 tons), butter - 1.8 percent (16.4 tons), margarine - 20 percent (16.8 thousand tons).
As of Jan.-Sept., the Azerbaijani metallurgical industry produced products and rendered services worth 341.8 million manat. Amount of production in metallurgical industry increased by 16.6 percent, finished metal products during this period increased by 70.5 times.
As of Oct.1, 2012, Azerbaijan produced agricultural products worht 4.088 billion manat, which is 6.3 percent more than in January-September 2011. In particular, the volume of crop production increased by 7.2 per cent, livestock - by 5.1 percent.
The total volume of trade turnover of Azerbaijan with 149 world countries in January-September 2012 amounted to $24.556 billion. As of January-September, 1,992 goods were exported from Azerbaijan, while 6,024 goods were imported. The surplus worth $11.026 billion was formed in foreign trade operations. Volume of exports exceeds imports by three times. Export of non-oil goods and services in 2012 is expected to reach $5 billion, which exceeds the 2008 figure by twice. Also exports of services also increase, which today hits 60 percent of non-oil exports.
Some 9.850.6 billion manat was invested in the economy of Azerbaijan in January-September 2012, an increase of 27.4 percent compared to the figures of the same period of the last year. Especially, in September 2012, 1.466.7 billion manat was invested in Azerbaijan's economy, which is 24.5 percent more than investments in September 2011
The Azerbaijani consumer market is developing rapidly (9-10 percent of the annual growth). The retail trade facilities, catering trade points form the basis of this growth. They are developing in the country both qualitatively and quantitatively. According to the State Statistics Committee, in Jan.-Sept. 2012, the Azerbaijani trading networks sold consumer goods to the population at 12.443.3 billion manat, which is 9 percent more than in Jan.-Sept. 2011. Paid services were rendered in the amount of 4.020.8 billion manat, which is 7.7 percent more compared the Jan.-Sept. 2011.
The price of consumer goods and tariffs for services increased by 0.6 percent in Azerbaijan in September 2012, and in January-September 2012 increased by 1.5 percent compared to the same period of last year, the State Statistics Committee said. Compared to January-September 2011, food prices increased by 1.4 percent, non-food products - by 1.2 percent, prices for services - by 1.4 percent. Food prices rose by 1.1 percent in September 2012 compared to August 2012, non-food prices remained unchanged, for tariffs and services increased by 0.2 percent.
According to State Statistics Committee of Azerbaijan, in January-September 2012 nominal income of the population of Azerbaijan totaled 24.228.4 billion manat, which is 13.6 percent more compared to the same period in 2011. During the same period, nominal income per capita income grew by 12.0 percent to 2,644 manat. The average monthly income per capita was 293.9 manat. The growth rate of per capita income exceeded consumer price growth by 10.5 percentage points.
The average monthly salary of employees in Azerbaijan in January-August 2012 amounted to 387.5 manat, which is 8.6 percent more than the same period of 2011. As of Oct.1, 2012, employed population totaled 4.639 million people and officially registered unemployed people - 37,400 people, 42.3 percent of whom are women.
Actual revenue in the revenue part of Azerbaijan's state budget amounted to 12.521 billion manat in January-September 2012 increasing by 39.4 percent compared to the same period of 2011. State budget expenditures amounted to 11.074.3 billion manat. The budget surplus for January - September amounted to 1.446.7 billion manat.
Exchange rate of manat remained stable. In September 2012 average exchange rate of manat compared to the U.S. dollar was 0.79 manat per dollar, compared to the euro - 0.97 manat per euro, to the Russian ruble - 2.46 manat for 100 rubles.