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




production of goods





- industry




- agriculture




- construction




Production of services





- transport




- communications




- tourism and public food facilities




- trade and repair




- social and other services




Net taxes on products






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.

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