General economic situation in Azerbaijan (January-April 2015)

A total volume of Azerbaijan's GDP amounted to 16.6 billion manat in January-April 2015 or by 5.5 percent more than in the same period of 2014.

The non-oil sector of the economy increased by 6.8 percent compared to the same period of 2014. Its share in the country's GDP hit 66.3 percent. The volume of value added production in the oil and gas extraction and processing hit 33.7 percent of GDP, increasing by4 percent compared to 2014.

Some 52.66 percent was formed in the field of production during this period. The value added share generated in industry makes up 36.2 percent (6 billion manat), construction was 13.5 percent (2.2 billion manat), agriculture, forestry and fishery was 3 percent (502.4 million manat). Some 36.68 percent of the gross output was created in the sector of services.

Net taxes on products and imports amounted to 10.6 percent of Azerbaijan's GDP.

Around 10.7 percent of GDP (1.8 billion manat) in the sector of services accounted for the trade and repair of vehicles, 6 percent (1 billion manat) - transport and warehousing, 2.8 percent (462.9 million manat) - tourist accommodation and catering sphere, 2 percent (338.9 million manat) - the information and communication services, 15.2 percent (2.5 billion manat) - social and other services.

The volume of value added production in Azerbaijan`s construction sector increased by 9.2 percent, tourist accommodation and catering - 13.5 percent, information and communication services - 10.6 percent, trade and repair of vehicles - 9.6 percent, transport and warehousing - 2.5 percent, social and other services -2.2 percent, agriculture, forestry and fishery - 3.7 percent in January-April 2015 compared to the same period of 2014.

Value added

in mln manat

Special weight,

%

Growth compared to reporting period of last year, %

GDP in total

16639,0

100,0

105,5

production of goods

8763,6

52,6

105,0

including

- industry

6020,0

36,2

104,0

- agriculture

502,4

3,0

103,7

- construction

2241,2

13,5

109,2

Production of services

6103,8

36,7

105,6

including:

- transport

1003,5

6,0

105,0

- communications

338,9

2,0

110,6

- tourism and public food facilities

462,9

2,8

113,5

- trade and repair

1775,7

10,6

109,6

- social and other services

2522,8

15,2

102,2

Net taxes on products

1771,6

10,6

108,5

Defliator

84,7

The tourism and catering sector has become the most dynamic sector of Azerbaijan in January-April 2015. This sector of the economy surpassed even the telecommunication sector as of May 1, showing a 13.5 percent growth.

Azerbaijan's non-oil sector increased by 10.5 percent, oil sector - by 2.9 percent in January-April 2015 compared to the same period of January-April 2014.

The total industrial production (a volume of production and rendered industrial services) in Azerbaijan for the period amounted to 8.47 billion manat, which is 3.7 percent more than in the same period of 2014.

The industrial production volume in the public sector amounted to 1.901 billion manat in January-April, while 6.371 billion manat in the private sector. The state sector share was only 24.8 percent of the total industrial production, while the private sector - 75.2 percent.

During the reporting period, the volume of production in the mining industry hit 5.28 billion manat with a weight of 62.3 percent of the entire industrial production, which is 3.9 percent more than in January-April 2014.

Oil production volume amounted to 14.21 million metric tons, while natural gas production was 9.76 million cubic meters.

Oil production increased by 0.4 percent, while gas production decreased by 4.1 percent compared to January-April 2014.

The production volume in the processing industry amounted to 2.42 billion manat (28.5 percent of total industrial output) in January-April 2015 or by 13.4 percent more than in January-April 2014.

The highest growth was observed in the production of jewelry, music, sports and medical equipment - by 2.5 times, leather and leather goods - by 2.4 times, repair and installation of equipment - by 2.3 times, and the chemical industry - by 84.2 percent.

Production, distribution and supply of electricity, gas and steam increased by 3 percent compared to January-April 2014, but water supply, treatment and recycling of waste - by 8.1 percent in January-April 2015.

The Azerbaijani metallurgy industry and enterprises produced goods and rendered services in the amount of 116.8 million AZN in January-April 2015.

The production volume of the metallurgy industry increased by 3.3 percent, while the production of finished products by 76.9 percent.

The production of iron casting amounted to 116.8 metric tons in Azerbaijan in January-April, which is 40.4 percent less than in the same period of last year.

Gold production increased by 39.1 percent in January-April 2015, while silver production decreased by 82.9 percent. So, some 723.2 kilograms of precious metals (including 170.8 kg in April) were produced in January-April, which is 11.3 percent more than in January-April 2014. In particular, the production amounted to 697.9 kilograms of gold (163.3 kg in April) and 25.3 kilograms of silver (6.7 kg).

According to the State Statistics Committee, the Azerbaijani trading networks sold consumer goods to the population at 7.497 billion manat in January-April 2015, which is 9.6 percent more than in the same period of 2014. Legal entities ensured 11.3 percent of trade turnover, individual entrepreneurs - 52.3 percent, fairs and markets - 36.2 percent.

According to the State Statistics Committee, in April 2015, the prices on consumer goods and tariffs on services decreased by 0.2 percent compared to the previous month. The inflation hit 3.1 percent in January-April 2015 compared to January-April 2014.

According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 12.649 billion manat in January-April 2015, which is 5.7 percent more compared to January-April 2014.

Thus, during this period, the nominal income of the population per capita increased by 4.4 percent and hit 1.333 manat.

As of May 1, 2015, some 29,200 people were officially registered as unemployed in Azerbaijan, including 39.1 percent women.

The foreign trade turnover with 126 world countries amounted to $7.67 billion in January-April 2015, or 22.42 percent less than in January-April 2014. The volume of exports decreased by 40.33 percent and amounted to $4.27 billion compared to January-April 2014. The volume of import increased by 24.46 percent and amounted to $3.4 billion.

Azerbaijan exported 1,180 goods and imported 5,025 different goods.

The volume of agricultural production in Azerbaijan in actual prices amounted to 910 million manat in January-April 2015 or by 3.7 percent more compared to the same period of last year.

According to the Azerbaijani State Statistics Committee's report as of four months, during this period the livestock production increased by 3.5 percent, crop production - by 8.4 percent.

According to the Azerbaijani State Statistics Committee, around 4.869 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-April 2015 or by 3.5 percent more than in the same period of 2014.

Around 1.636 billion manat was invested in Azerbaijani economy in April 2015 or by 8.9 percent more investments in fixed capital than in April 2014.

The exchange rate of Azerbaijani manat remained stable. In April 2015, the average rate of manat to the U.S. dollar was 1.05 manat per dollar, to euro - 1.13 manat per euro, to Russian rouble - 1.99 AZN per 100 rouble.

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