The total volume of Azerbaijan's GDP as of January-July 2014 amounted to 33.99 billion AZN, which exceeds the same period of 2013 by 2.4 percent. Nominal GDP growth was 4.3 percent. GDP per capita increased by 1.1 percent in January-July and amounted to 3 621,3 AZN ($4 617,3) in January-April.

During the reporting period, some 61.8 percent of Azerbaijan's GDP was formed in production sphere where the volumes remained unchanged.

A share of value added in the industry is 45.5 percent, while 11.4 percent in construction, 4.9 percent in agriculture, forestry and fishing. About 31.14 percent of the gross product was created in the service sector.

Net taxes on production and imports amounted to 2.403.7 billion AZN or 7.1 percent of Azerbaijan's GDP.

Some 7.6 percent of GDP in the service sector fell to the trade and repair of vehicles, 6 percent to transport and warehousing, 5 percent to tourist accommodation and catering, 1.7 percent to information and communication services, 14.6 percent to social and other service spheres.

The non-oil sector increased by 6.8 percent compared to the same period of 2013 and its share in the country's GDP amounted to 56.8 percent. The volume of production of value added in the sphere of oil and gas production reduced by 3.1 percent.

The volume of production of value added in the sphere of construction increased by 11.3 percent, tourist accommodation and catering - 15.1 percent, trade and repair of vehicles - 9.1 percent, information and communication services - 12.4 percent, transport and warehousing - 5.7 percent, social and other services - 4.7 percent but reduced by 4.2 percent in agriculture, forestry and fishery in Azerbaijan in January-July 2014 compared to the same period of 2013.

The total industrial production volume (a volume of produced goods and rendered industrial services) in Azerbaijan totaled 19.8 billion AZN in January-July 2014, which is 2.1 percent less than in the same period of last year.

Azerbaijan's non-oil sector in this period showed an increase of 4.4 percent, oil sector - reduced by 2.7 percent compared to the same period of 2013.

During the reporting period, the volume of production in the mining industry exceeded 13.3 billion AZN with a weight of 72.5 percent of all industrial production, which is 2.6 percent less than in the same period of last year.

Oil production volume amounted to 24.9 million tons, and natural gas - 10.7 billion cubic meters in January-July 2014. Oil production declined by 2.2 percent, while gas production increased by 4.6 percent compared to the same period of 2013.

The production volume in manufacturing industry amounted to 4.3 billion AZN, which is 2.5 percent less than in the same period of last year.

Production, distribution and supply of electricity, gas and steam hit 5.3 percent of the total volume of industrial production, while water supply, treatment and recycling of waste - 0.6 percent.

The products were produced and services worth 230.8 million AZN were rendered in the Azerbaijani metallurgical industry in January-July 2014. The production volume in the metallurgical industry decreased by 14.5 percent, whilst finished metal products increased by 14.4 percent.

Azerbaijan produced 1,510 cars in January-July 2014, which is 4.6 times more than in the same period of 2013. During this period, the country produced 159 trucks, which is 8.2 times more than in the same period of last year. The country produced 709 tractors in January-July, which is 70.8 percent more than in the same period of 2013.

Azerbaijan, which has started commercial production of gold since July 2009 and announced about a silver production volume since 2010, increased gold production by 37 percent, reduced silver production - by 46 percent in January-July 2014. Around 1216,1 kilograms of precious metals (179,8 kg in July) were produced in January-July or by 8.7 percent less than in the same period of 2013. Some 1009,1 kilograms of gold (168,1 kg in July) and 206,2 kilograms of silver (10,9 kg) were produced in January-July.

The stable growth of agricultural production volumes remained in the country in January-July 2014. According to the report of the Azerbaijani State Statistics Committee, the agricultural production volume amounted to 2.990 million AZN at current prices in January-July 2014 or by 4.2 percent less compared to the same period of last year.

According to the State Statistics Committee, the Azerbaijani trading networks sold consumer goods to the population at 11.843 billion AZN in January-July 2014, which is 9.1 percent more than in the same period of 2013. Legal entities ensured 11.6 percent of trade turnover, individual entrepreneurs - 51.2 percent, fairs and markets - 37 percent.

According to the State Statistics Committee, the prices on consumer goods and tariffs on services decreased by 0.8 percent in July 2014 compared to the previous month and increased by 1.5 percent in January-July compared to the first seven months of 2013. Thus, inflation in Azerbaijan, which is one of the indices of macroeconomic stability, hit only 1.5 percent

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 21.019.3 billion AZN in January-July 2014, which is 4.7 percent more compared to January-July 2013. Thus, during this period, the nominal income of the population per capita increased by 3.4 percent and hit 2239,1 AZN.

As of August 1, 2014, around 36,700 people were officially registered as unemployed in Azerbaijan, including 40.7 percent of women.

The foreign trade turnover with 137 world countries amounted to $18.133 billion in January-July 2014, or 9.53 percent less than in January-July 2013. The volume of exports decreased by 4.44 percent and amounted to $13.25 billion compared to January-July 2013. The volume of import decreased by 20.97 percent and amounted to $4.88 billion. Azerbaijan exported 1,732 goods and imported 5,436 different goods. As of January-July 2014, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $8.36 billion.

According to the Azerbaijani State Statistics Committee, around 9.075.5 billion AZN was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-July 2014, which is by 3 percent more than in the same period of last year. It indicates sustainable investment activity in the country. In particular, around 1.449.6 billion AZN were invested in the Azerbaijani economy in July 2014, which is by 0.7 percent more than investments in fixed assets in July 2013.

The exchange rate of AZN remained stable. In July 2014, the average rate of AZN to the U.S. dollar was 0.78 AZN per dollar, to euro - 1.06 AZN per euro, to Russian rouble - 2.26 AZN per 100 rouble.