The total volume of Azerbaijan's GDP as of January-February 2014 amounted to 8.5 billion manat, which exceeds the same period of 2013 by 1.6 percent. GDP per capita amounted to 903.5 manat ($1151.9) in January-February.
During the reporting period, some 61.3 percent of Azerbaijan's GDP was formed in production sphere, about 50 percent in industry, 8.8 percent in construction, 2.5 percent in agriculture, forestry and fishing. About 38.7 percent of the gross product was created in the service sector.
Net taxes on production and imports amounted to 591.5 million manat or 7 percent of Azerbaijan's GDP.
Some 9.1 percent of GDP in the service sector fell to the trade and repair of vehicles, 6.3 percent to transport and warehousing, 2.5 percent to tourist accommodation and catering, 1.9 percent to information and communication services, 11.9 percent to social and other service spheres.
The non-oil sector increased by 8.8 percent compared to the same period of 2013 and its share in the country's GDP amounted to 53.9 percent. The volume of production of value added in the sphere of oil and gas production reduced by 5.7 percent.
The volume of production of value added in the sphere of construction in Azerbaijan increased by 21.6 percent in January-February 2014 compared to the same period of 2013, tourist accommodation and catering - 17.4 percent, trade and repair of vehicles - 9 percent, information and communication services - 11.2 percent, agriculture, forestry and fishery - 3.4 percent, transport and warehousing - 4.8 percent, social and other services - 3.6 percent.
|
Value added in mln manat |
Special weight, % |
Growth compared to reporting period of last year, % |
|
|
GDP in total |
8462,4 |
100,0 |
101,6 |
|
production of goods |
5188,6 |
61,3 |
98,7 |
|
including - industry |
4231,7 |
50,0 |
95,3 |
|
- agriculture |
211,0 |
2,5 |
103,4 |
|
- construction |
754,9 |
8,9 |
121,6 |
|
Production of services |
2682,3 |
31,6 |
106,8 |
|
including: - transport |
539,3 |
6,3 |
104,8 |
|
- communications |
159,7 |
1,8 |
111,2 |
|
- tourism and public food facilities |
210,3 |
2,5 |
117,4 |
|
- trade and repair |
767,3 |
9,0 |
109,0 |
|
- social and other services |
1005,7 |
11,88 |
103,6 |
|
Net taxes on products |
591,5 |
6,9 |
105,9 |
|
Defliator |
99,2 |
||
The industrial production volume reduced by seven percent in Azerbaijan in February compared to January 2014.
The industrial production volume amounted to 5.4 billion manat in Azerbaijan in January-February 2014 or $6.884 billion, which was 3.7 percent less than in the same period of last year.
The industrial production volume was 2.6 billion manat in February compared to 2.8 billion manat in January 2014.
The industrial production volume in the public sector amounted to 1.085.4 billion, while in the private sector - 4.314.6 billion manat in January-February. The public sector share accounted for only 20.1 percent of the total industrial production, private sector - 79.9 percent.
The production in the extractive industry ( 3.9 billion manat) was 71.6 percent of the total industrial production, in the manufacturing industry ( 1.1 billion manat) - 21.1 percent, in the power engineering and gas sector - 363.4 million manat or 6.7 percent and the remaining volume ( 0.6 percent ) fell to the water supply, wastewater and solid waste utilization in January -February. The decline in the extractive industry production was 4.4 percent, the growth in the manufacturing sector - 0.3 percent, in the power engineering and gas sector - 1.6 percent, water supply and waste utilization - 13.3 percent.
The Azerbaijani metallurgical industry produced products and rendered services worth 66.7 million manat in January-February 2014. The production volume in the metallurgical industry increased by 47 percent, whilst finished metal products by 39.5 percent during this period compared to the same period of 2013.
As of January-February, the cast iron production in the country was 48,700 tons which is 83.7 percent less than in the same period of 2013. Some 7,000 steel pipes were produced during this period or by 54.3 percent less than in January-February 2013.
Azerbaijan, which has started commercial production of gold since July 2009, and announced about accompanying silver production volume since 2010, increased gold production by 6.8 percent, reduced silver production - by 58.5 percent in January-February 2014. Around 262.6 kilograms of precious metals were produced in January-February which was by 20.8 percent less than in the same period of 2013. Some 204.4 kilograms of gold (103.9 kg in February) and 58.2 kilograms of silver (32.2 kg) were produced.
According to the Azerbaijani State Statistics Committee, the agricultural production in Azerbaijan increased by 3.4 percent in January-February 2014 compared to the same period of 2013 and amounted to 378.3 million manat. The output of products in crop sector increased by 5.1 percent, while by 3.4 percent in the livestock sector compared to January-February 2013.
According to the State Statistics Committee, the Azerbaijani trading networks sold consumer goods to the population at 3.193.3 billion manat in January-February 2014, which is 9 percent more than in the same period of 2013. Legal entities ensured 11.9 percent of trade turnover, individual entrepreneurs - 51 percent, fairs and markets - 36.9 percent.
According to the State Statistics Committee, in February 2014, the prices on consumer goods and tariffs on services increased by 0.4 percent compared to the previous month and by 2.1 percent in January-February compared to the same period of the previous year.
Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 2.1 percent in February 2014.
The positive dynamics is observed in improving the population's welfare indices. According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 5.636 million manat in January-February 2014, which is 4.1 percent more compared to January-February 2013. Thus, during this period, the nominal income of the population per capita increased by 2.8 percent and hit 601.8 manat.
As of March 1, 2014, around 36,619 citizens were officially registered as unemployed in Azerbaijan compared to 36,488 people as of Feb.1 and 36,209 people as of early 2014.
Thus, the number of unemployed increased by 131 people in February and by 410 people - in 2014.
The foreign trade turnover with 112 world countries amounted to 4.968 billion in January-February 2014, or 11.56 percent less than in January-February 2013. The volume of exports decreased by 9.69 percent and amounted to $3.78 billion compared to January-February 2013. The volume of import decreased by 17.01 percent and amounted to $1.19 billion. Azerbaijan exported 912 goods and imported 3,955 different goods. As of January-February 2014, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.6 billion
According to the Azerbaijani State Statistics Committee, around 1.824.6 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-February 2014, which is by 7.9 percent more than in the same period of 2013. It indicates sustainable investment activity in the country. In particular, around 1.163.7 billion manat were invested in the Azerbaijani economy in February 2014, which is by 9.5 percent more than investments in fixed assets in February 2013.
The exchange rate of manat remained stable. In February 2014, the average rate of manat to the U.S. dollar was 0.78 manat per dollar, to euro - 1.07 manat per euro, to Russian rouble - 2.23 manat per 100 rouble.