General economic situation in Azerbaijan (January-August 2013)

Azerbaijan's GDP increased by 5.2 percent and amounted to 37.42 billion manat at current prices in January-August 2013 compared to the same period of 2012. A year earlier, the growth rate for manufacturing value added in Azerbaijan amounted to 1.3 percent.

Nominal GDP growth was 4.4 percent. GDP volume per capita increased by 3.9 percent and on average hit 4.035.7 manat ($ 5.143.6).

The non-oil sector manufacturing value added increased by 10.3 percent to 20.65 billion manat per year or 55.2 percent of GDP, while it reduced in the oil and gas sector by 0.1 percent to 16.77 billion manat. The value added manufacturing services increased by 6.3 percent to 11.09 billion manat compared to the same period in 2012.

The total production volume in all sectors of the economy increased by 4.5 percent reaching 23.87 billion manat or 63.8 percent of GDP compared to January-August 2012. The industrial production in the country decreased by 0.2 percent - to 17.68 billion manat, which is 47.2 percent of GDP.

The value added was generated at 3.731.5 billion manat (an increase of 4.5 percent) in agriculture, fishery and forestry or 5.6 percent of GDP in January -August, the construction sector - 4.108.6 billion manat ( 11 percent of GDP with an increase of 32.1 percent), trade and repair of vehicles - 2.7 billion manat ( 7.3 percent of GDP with an increase of 9.4 percent), transport and warehousing - 2.135.8 billion manat ( 5.7 percent of GDP with an increase of 4.4 percent), tourist accommodation and catering services - 794.7 million manat (2.1 percent of GDP with an increase of 20.3 percent), communications and information - 641.2 million manat ( 1.7 percent of GDP with an increase of seven percent), rendering of social and other services - 4.805.5 billion ( 12.8 percent of GDP with an increase of 3.3 percent).

Net taxes on products and imports increased by 8.7 percent and amounted to 2.458.3 billion manat or 6.6 percent of GDP.

Value added

in mln manat

Special weight, in %

Growth compared to reporting period of last year, %

GDP in total

37419,8

100,0

105,2

production of goods

23868,5

63,8

104,5

including

- industry

17680,7

47,7

99,8

- agriculture

2079,2

5,3

104,5

- construction

4108,6

10,8

132,1

Production of services

11093,0

29,7

106,3

including:

- transport

2135,8

5,6

104,4

- communications

641,2

1,7

107,0

- tourism and public food facilities

794,7

2,1

120,3

- trade and repair

2715,8

7,4

109,4

- social and other services

4805,5

12,8

103,3

Net taxes on products

2458,3

6,5

108,7

Defliator

99,2

Source: State Statistics Committee

The total volume of industrial production in Azerbaijan, that is the volume of produced goods and rendered industrial services, amounted to 22.5 billion manat in January-August 2013, which is 0.6 percent more than in the same period of 2012.

The output in the non-oil sector in the period increased by 2.8 percent, while by 0.1 percent in the oil sector.

The largest increase was observed in the field of printing industry, manufacturing of vehicles, cars and trailers, shoes and leather goods, building materials and other vehicles, installation and repair of machinery and equipment in the Azerbaijani non-oil sector in January-August this year.

During the reporting period, the volume of production in the mining industry totaled 16.7 billion manat with a weight of 74.4 percent in the entire industrial production which is 0.4 percent less than in the same period of last year.

Oil production volume hit 29.1 million tons in January-August this year, while production of marketable natural gas was 11.7 billion cubic meters. Oil production reduced by 1 percent compared to the same period of 2012, while gas production increased by 2.3 percent.

The volume of production in the manufacturing industry in January-August totaled 4.46 billion manat with a weight of 19.8 percent or by 6 percent more than in the same period of last year.

Generation, distribution and supply of electricity, gas and steam decreased by 0.3 percent, while water supply, treatment and recycling of waste increased by 9.4 percent compared to the same period of 2012.

Around 326 cars were produced in Azerbaijan in January-August 2013, which is 2.7 times more than the same period of 2012. According to the State Statistics Committee, around 147 trucks were produced in the republic in January-August 2013, which is 40 percent more than in January-August 2012. Despite the growth of car and truck production, a decline was observed in tractor production in January-August 2013. Around 423 tractors were produced during this period, which is 26.8 percent less than in January-August 2012.

As of September 1, 2013, Azerbaijan produced agricultural products worth 3.731.5 billion manat, which is 7.8 percent more than in January-August 2012. Agricultural output at stable prices increased by 4.5 percent, including 3.9 percent of crop production, 5.2 percent of livestock production.

In January-August 2013, the Azerbaijani trading networks sold consumer goods to the population at 12.208 billion manat, which is 9.4 percent more than in January-August 2012. Legal entities ensured 12.2 percent of trade turnover, individual entrepreneurs - 56.6 percent, fairs and markets - 43.4 percent.

According to the State Statistics Committee, in August 2013, the prices on consumer goods and tariffs on services decreased by 0.3 percent compared to the previous month and increased by 2.2 percent in January-August 2013 in accordance with January-August 2012.

In January-August 2013, the nominal income of the population totaled 22.033.3 billion manat, which is 7.4 percent more compared to January-August 2012. Thus, during this period, the nominal income of the population per capita increased by 6 percent and hit 2.376.2 manat.

As of September 1, 2013, around 37,000 people were officially registered as unemployed in Azerbaijan, including 41.5 percent of women. The number of unemployed in the country increased by 0.6 percent since early 2013 (36,791 people as of early 2013).

The foreign trade turnover with 144 world countries amounted to $23.09 billion in January-August 2013, or 5.69 percent more than in January-August 2012. The volume of exports increased by 0.8 percent to $15.95 billion compared to the same period of 2012. The volume of import increased by 18.54 percent and hit $7.13 billion. Azerbaijan exported 1,750 products, and imported 5,727 different goods. As of Jan.-Aug. 2013, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $8.82 billion.

According to the Azerbaijani State Statistics Committee, around 10.4 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-August 2013, which is by 22.7 percent more than in the same period of last year. It indicates sustainable investment activity in the country. In particular, around 1.600 billion manat were invested in the Azerbaijani economy in August 2013, which is by 27.2 percent more than investments in fixed assets in August 2012.

The actual revenue in the revenue part of Azerbaijan's state budget amounted to 12.890.1 billion manat in January-August 2013 (34.4 percent of GDP) increasing by 17.3 percent compared to the same period of 2012. State budget expenditures increased by 18.8 percent to 11.623.2 billion manat (31.1 percent of GDP). The budget surplus for January-August amounted to 1.266.9 billion manat, which made up 3.4 percent of GDP. It slightly increased (1.266.6 billion manat) compared to the same period of 2012.

Manat exchange rate remained stable. In August 2013, average rate of manat to the U.S. dollar was 0.78 manat per dollar, to euro - 1.04 manat per euro, to Russian rouble - 2.37 manat per 100 rouble.

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