General economic situation in Azerbaijan (I Quarter 2013)

Azerbaijan demonstrates steadiness to crisis phenomenon in the world economy. Today economy of Azerbaijan continues to grow, and 75 percent of GDP of South Caucasus accounts for Azerbaijan.

Azerbaijan's GDP increased by 3.1 percent in the first quarter of 2013 compared to the same period of last year and hit 12.947 billion manat at current prices. Nominal GDP growth was at 0.26 percent. GDP per capita increased by 1.7 percent and totaled 1.399.6 manat ($1.783.4).

Production of added value in the non-oil sector grew by 11.4 percent over the year, amounting to 6.64 billion manat, or 51.3 percent of GDP, and fell by 4 percent in the oil and gas sector.

Production of added value in the services sector increased by 6.9 percent to 4.039 billion manat compared to the same period in 2012.

Total production in all sectors of the economy grew by 0.7 percent compared to January-March 2012 and totaled 8.08 billion manat or 62.4 percent of GDP.

The industrial production in the country decreased by 3.6 percent - up to 6.774 billion manat, which is 52.3 percent of GDP.

The production of added value in the agriculture, fisheries and forestry was 296 million manat, or 2.3 percent of GDP in the first quarter of 2013, in the construction sector - 1.010.8 billion manat (7.8 percent), in trade and in repair services of vehicles - 1.077.3 billion manat (8.3 percent), in transport and warehousing - 787.3 million manat (6.1 percent), in communications and information - 230.1 million (1.8 percent), in the field of accommodation and catering - 275.9 million manat (2.1 percent), in social and other services - 1.668.8 billion manat (12.9 percent).

Net taxes on products and imports increased by 10.7 percent, amounting to 826.5 million manat, or 6.4 percent of GDP.

Value added

in mln manats

Special weight, in %

Growth compared to reporting period of last year, %

GDP in total

12946,6

100,0

103,1

production of goods

8080,7

62,4

100,7

including

- industry

6773,9

52,3

96,4

- agriculture

296,0

2,3

104,4

- construction

1010,8

7,8

145,7

Production of services

4039,4

31,2

106,9

including:

- transport

787,3

6,1

104,9

- communications

230,1

1,8

112,5

- tourism and public food facilities

275,9

2,1

125,9

- trade and repair

1077,3

8,3

109,5

- social and other services

1668,8

12,9

102,9

Net taxes on products

826,5

6,4

110,7

Defliator

97,3

Source: State Statistics Committee

In January-March 2013 the volume of industrial production in the public sector amounted to 1.747,151 billion manat increasing by 7.2 percent, in the private sector - 6.805.877 billion decreasing by 3.8 percent. Share of public sector hit only 20.4 percent of total industrial sector, while private sector - 79.6 percent.

Production in the mining industry in January-March (6,412.697 billion manat) made up 75 percent of total industrial production in the manufacturing industry (1,570.809 billion manat) - 18.4 percent, in the power industry and gas sector - 523,207 million manat, or 6.1 percent, and the remaining volume (46.314 million manat, or 0.5 per cent) accounted for the water supply, wastewater cleaning and solid waste utilization. The decline in the production in mining industry hit 3.8 percent, the growth in processing industry - 10.4 percent, in the power industry and gas sector - 1 percent, in water supply and waste utilization - 2 percent.

In January-March 2013 the metallurgical industry and enterprises for the production of finished metal products produced goods and rendered services in the amount of 87.1 million manat. Compared to the same period of last year, the volume of production in the metallurgical industry increased by 1.3 percent, and the output of finished products declined by 49.2 percent.

In January-March 2013, gold production decreased by 13.7 percent, while silver production - by 13.3 percent. According to the State Statistics Committee, in January-March 2013, the country produced 473.6 kilograms of precious metals (141.9 kg in March), or 13.5 per cent less than their production in January-March 2012. Thus, in January-March production amounted to 266.8 kilograms of gold (75.5 kg in March) and 206.8 kilograms of silver (66.4 kg).

In the first quarter of 2013, the agricultural production in Azerbaijan increased by 4.4 percent and amounted to 528.9 million manat, including vegetables and production of crops increased by 6.5 percent, and livestock - by 4.3 percent.

According to the State Statistics Committee, in January-March, the Azerbaijani trading networks sold consumer goods to the population at 4.531.3 billion manat, which is 9.5 percent more than in the first quarter of 2012. Legal entities provided 12.0 per cent of this trade turnover, individual entrepreneurs - 55.4 percent and fairs and markets - 44.6 percent.

In March 2013, consumer prices and tariffs for services compared to the previous month increased by 0.6 percent, and in January-March 2013 rose in price by 1.2 percent compared to January-March 2012.

According to State Statistics Committee of Azerbaijan, in January-March 2013 nominal income of Azerbaijani population totaled 7.736.7 billion manat, which is 5.9 percent more compared to the same period of 2012. During the same period, nominal income per capita income grew by 4.5 percent to 836.4 manat.

According to the State Statistics Committee of Azerbaijan, as of April 1, 37,639 people were officially registered as unemployed compared to 37,637 a month earlier and 36,791 people as of early year. In other words, the number of unemployed in March increased by 2 people, and decreased by 120 people since early year.

In the first quarter of 2013, the country's foreign trade turnover with 124 countries comprised $8.56 billion, or 8.39 percent more than the first quarter of 2012. Compared to the same period of 2012, exports increased by 8.65 per cent and amounted to $6.35 billion. The volume of imports fell by 7.64 percent and amounted to $2.21 billion. Azerbaijan exported 961 items of products, and imported 4,432 items of goods. In January-March 2013 the nominal export index exceeded import index, which led to the formation of surplus in the amount of $4.14 billion in the foreign trade.

Some 2.902.2 billion manat was invested in the economy of Azerbaijan in the first-quarter of 2013 from all financial sources, increasing by 36.1 percent compared to the figures of the same period of 2012, which indicates sustained investment activity in the country. In particular, 1.222.1 billion manta was invested in the Azerbaijani economy in March 2012, which is 35.3 percent higher than investments in the ficed capital in March 2012.

State budget expenditures amounted to 4.669.6 billion manat during the reporting period, expenses - 4.514.8 billion manat. The budget surplus amounted to 1.548 million manat.

In the first quarter of 2013, revenues to the state budget exceeded the planned targets by 31 percent and the figure from the same period last year - by 33.9 percent.

The rate of manat remained stable. In March 2013 average rate of manat to the U.S. dollar was 0.78 manat per dollar, to euro - 1.02 manat per euro, to the Russian rouble - 2.55 manat per 100 roubles.

Subscribe to Trend in Google News! Subscribe
Transport infrastructure in Karabakh to turn Azerbaijan into logistics hub between Central Asia and Europe – CAERC
Transport infrastructure in Karabakh to turn Azerbaijan into logistics hub between Central Asia and Europe – CAERC
Activities in Iran’s Imam Khomeini port down
Activities in Iran’s Imam Khomeini port down
Kazakhstan reports increase in maritime transport volumes
Kazakhstan reports increase in maritime transport volumes
Loading Bars
Latest
UAE reports its first case of COVID-19 variant Omicron
Moderna exec says company could have Omicron booster ready in March
UN says international migration rose last year despite Covid-19 impact
Kyrgyz border service reports shots from Tajikistan
Bennett declares ‘Yamam’ Israel’s national counterterrorism force
Transport infrastructure in Karabakh to turn Azerbaijan into logistics hub between Central Asia and Europe – CAERC
Four injured after old WWII aircraft bomb explodes in Munich - police
1st US case of COVID-19 omicron variant identified - Fauci
OPEC can elect new secretary general in January 2022 — source
President Erdogan talks bilateral relations with Crown Prince of UAE
Georgia to receive special PCR tests to detect new Omicron variant of coronavirus
Qatar Airways to launch flights to Uzbekistan from Jan 17, 2022
Iran military clashes with armed men on Afghan border
Armenia found itself in complete military-political isolation even within CSTO - Russian military expert
Net foreign assets in Azerbaijan grow for 10M2021
New geopolitical situation in region opens way for Azerbaijan’s further development - ambassador
Ambassador of Kazakhstan expresses condolences to Azerbaijan due to helicopter crash
Azerbaijan working on reconstruction railway line which is part of Zangazur corridor (PHOTO)
SOCAR’s STAR refinery tests numerous types of crude oil
Azerbaijan considering sending medical workers of Baku clinics to district hospitals
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,795 more COVID-19 cases, 1,967 recoveries
Azerbaijani National Depository Center opens tender to buy new generation security system
Georgia boosts honey exports
Solar PV growth to surpass wind in EU in 2021-2026
Servicemen injured in Azerbaijani helicopter crash talk about incident (PHOTO/VIDEO)
Turkmen company exports paper products to Uzbekistan, Turkey
Iranian companies express readiness to restore factories in Syria - minister
Azerbaijani, Armenian FMs to meet in Sweden
President Ilham Aliyev receives EU Special Representative for South Caucasus (PHOTO/VIDEO)
US Marshall Legacy Institute sends eight more mine detection dogs to Azerbaijan (PHOTO)
Iran’s Bahar Azadi gold coin price rebounds
Azerbaijani agency shares data for mine detection, clearing work in liberated territories
Central Bank of Azerbaijan opens tender to insure fixed assets
Azerbaijan’s 10M2021 oil exports to Spain revealed
Uzbek Statistics Committee shares data on volume of retail trade turnover
Georgian medics advise reconsidering COVID-19 passports issuance
Overview of Uzbekistan's volume of wholesale trade turnover dynamics between 2010-2020
Price indexes of construction, trade sectors at Uzbek stock exchange fall
Georgia, IMF discuss new co-op program
Prices for goods and services in consumer market of Uzbekistan rise
Turkey’s diesel fuel exports to Georgia down
Georgia, NATO discuss further co-op and Black Sea security
Iran bans import of musical instruments due to lack of foreign exchange resources
Turkmen ministry prolongs tender for supply of metal blanks
IRENEX shares data on sales of Tabriz Oil Refining Company
Activities in Iran’s Imam Khomeini port down
Star Refinery satisfies about quarter of Turkey's refined petroleum product needs - CEO
Kazakhstan’s oil and gas company opens tender to supply fittings
Mobile phones rank first in Iran’s total imports - IRICA
Turkmenistan’s education ministry extends tender for setting drip irrigation system
Oil minister tells president, parliament that Iran's oil exports 'significantly grow'
Azerbaijan, Pakistan talk prospects for development of military co-op (PHOTO)
Azerbaijan's SOCAR Polymer exports increase over 10M2021
Iran unveils volume of dates export
Iran’s CBI reveals data on balance of bank loans
EU to exceed current renewable capacity plans for 2030
Azerbaijan reveals oil exports to Italy in 10M2021
Azerbaijan shares data on oil export to Croatia in 10M2021
Baku Metro provides ‘November 8’ station with backup power supply (Exclusive) (PHOTO)
Renewable electricity generation to exceed average annual growth rate of 2015-2020
Expansion of bioenergy for power capacity to slow down
Renewable energy capacity to expand by 2026, says IEA
Azerbaijan talks ongoing work to provide electricity to liberated Lachin district
Special representative of Azerbaijan's President in liberated territories within Karabakh economic region appointed
German Ambassador expresses condolences to Azerbaijan over deadly helicopter crash
Iran, Syria sign four cooperation agreements
Iran to invest in Syrian industrial towns
Austria extends COVID-19 lockdown by 10 days
Branch of Azerbaijan’s Balakhani Operating Company opens tender to buy pipes, pumps
Baku electric company opens tender to buy materials for lamp posts repair
Organization of social zone of Aghdam Industrial Park completes in Azerbaijan – minister
Deputy Prime Ministers of Azerbaijan, Armenia and Russia to meet in Moscow today
Azerbaijan’s Azerishig opens tender for reconstruction of substation in Sumgayit
Kazakhstan increases trade with India over 9M2021
Nar continues to grow IT professionals (PHOTO)
India provides medical, humanitarian aid to over 150 countries to deal with COVID-19: MEA
Georgia receives COVID-19 support grant from German Development Bank
Turkey-Azerbaijan trade turnover grows in October 2021
Kazakhstan reports increase in maritime transport volumes
SOCAR Petroleum to open new petrol station in Azerbaijan’s Gubadli district
SOCAR Georgia Gas increases gas tariffs
Iran reveals COVID-19 data for December 1
Azerbaijan discloses data on oil exports to Israel
Georgian cities receive EU grant for cultural development
Saudi Arabia reports first Omicron case coming from north Africa
Georgian FM expresses condolences for lives lost in crash of military helicopter
PMO records increase in cargo movements in Iranian ports
Turkey’s BOTAS increases gas imports
Hungary launches Stipendium Hungaricum scholarship programm
Russia working out celebration program for 30th anniversary of ties with Azerbaijan - MFA
Burial ceremony of Azerbaijani helicopter crash victims held in second Alley of Martyrs (PHOTO/VIDEO)
Georgian Embassy expresses condolences to Azerbaijan on helicopter crash
Iran to prepare budget bill with highest economic growth estimates - President Raisi
Construction and installation work under completion at Azerbaijan’s Khojasan metro station (PHOTO)
Dynamics of OPEC+ production in 2021-2023
Share of Iranian government in earnings from crude oil exports to decrease – Official
Some try to use helicopter crash for political purposes - Azerbaijan's prosecutor general (PHOTO)
Azerbaijan lost comrades - head of Azerbaijani State Border Service on helicopter crash
Azerbaijan sees increase in local payments of foreigners via bank cards
All news