General economic situation in Azerbaijan (January-August 2015)

A volume of Azerbaijan's GDP amounted to 36.03 billion manat in January-August 2015 or by 4.2 percent more than in the same period of 2014.

The non-oil sector of the economy increased by 7.3 percent compared to the same period of 2014. Its share in the country's GDP hit 68.4 percent or by 10.7 percentage points more than in the same period of 2014. The volume of value added production in the oil and gas extraction and processing hit 31.6 percent of GDP or by 0.1 percent less compared to the same period of 2014.

Some 54.34 percent was formed in the field of production during this period. The value added share generated in industry makes up 34.6 percent (12.47 billion manat), construction was 13.4 percent (4.83 billion manat), agriculture, forestry and fishery was 6.3 percent (2.28 billion manat).

Net taxes on products and imports amounted to 8 percent of Azerbaijan's GDP.

Some 37.66 percent of the gross output was created in the sector of services.

Around 9.9 percent (3.57 billion manat) of GDP in the sector of services accounted for the trade and repair of vehicles, 5.8 percent (2.1 billion manat) - transport and warehousing, 2.8 percent (1 billion manat) - tourist accommodation and catering sphere, 2 percent (709.8 million manat) - the information and communication services, 17.2 percent (6.19 billion manat) - social and other services.

The volume of value added production in Azerbaijan`s construction sector increased by 8.4 percent, tourist accommodation and catering - 16.7 percent, information and communication services - 10.8 percent, trade and repair of vehicles - 11.3 percent, transport and warehousing - 0.2 percent, social and other services - 3.8 percent, agriculture, forestry and fishery - 7.4 percent in January-August 2015 compared to the same period of 2014.

The nominal volume of industrial production decreased by 47.14 percent in Azerbaijan in August compared to July 2015. The nominal volume of industrial production in Azerbaijan amounted to 17.618 billion manat or $16.813 billion in January-August 2015. The real industrial production increased by 2.3 percent compared to the same period of last year. The industrial output in the state sector amounted to 4.087 billion manat in January-August, while 13.531 billion manat in the private sector. The state sector share was only 23.2 percent of the total industrial production, while 76.8 percent in the private sector.

The non-oil industry increased by 11.3 percent from year to year to 4.965 billion manat, while the oil industry dropped by 0.9 percent to 12.653 billion manat.

The production in the mining industry hit 63 percent (11.111 billion manat) of the total industrial output, 29.1 percent (5.135 billion manat) - in the processing industry, 6.9 percent (1.222 billion manat) - in the electric power engineering and gas sector and the remaining volume (approximately 1 percent or 150.5 million manat) accounted for the water supply, sewage treatment and utilization of hard waste in January-August. The production in the extracting industry increased by 1.3 percent, in the manufacturing industry - 11.5 percent, in the electric power engineering and gas sector - 2.4 percent, in water supply and waste utilization - 3.8 percent.

Azerbaijan produced 210 trucks in January-August 2015 or by 16.7 percent more than in the same period of 2014. According to the report of the Azerbaijani State Statistics Committee for the first eight months of 2015, during this period, Azerbaijan produced 370 cars, which is 79.1 percent less than in January-August 2014. The country produced 670 tractors in January-August 2015, which is 23.3 percent less than in the same period of 2014.

Azerbaijan has started the industrial production of gold since July 2009 and announced the accompanying silver production volume since 2010. It increased gold production by 30 percent in January-August 2015 by reducing the production of silver by 70.2 percent. Some 1573.6 kilograms of precious metals (including 194.5 kg in August)were produced in January-August 2015, which is 14.7 percent more compared to January-August 2014. The production totaled 1510.8 kg of gold and 62.8 kg of silver in January-August.

The agricultural production volume in actual prices amounted to 4.13 billion manat in Azerbaijan in January-August 2015 or by 7.4 percent more compared to the same period of last year.

According to the Azerbaijani State Statistics Committee's report as of eight months, during this period the livestock production increased by 2.2 percent, crop production - by 12.3 percent.

According to the State Statistics Committee, as of September 1, 2015, the Azerbaijani consumer market amounted to 20.966 billion manat, which is 10.3 percent more than its turnover for the same period of 2014. The monthly consumer expenses are estimated at 275.6 manat per capita in January-August 2015 or by 32.7 manat more compared to January-August 2014.

According to the State Statistics Committee, the prices on consumer goods and tariffs on services decreased by 0.1 percent in August 2015 compared to the previous month. The inflation hit 3.8 percent in January-August 2015 compared to the same period of 2014.

The foreign trade turnover with 144 world countries amounted to $14.08 billion in January-August 2015, or 32.83 percent less than in January-August 2014. The volume of exports decreased by 46.69 percent and amounted to $8.18 billion compared to January-August 2014. The volume of import increased by 5.09 percent and amounted to $5.9 billion.

Azerbaijan exported 2,106 goods and imported 5,797 different goods.

As of January-August 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.3 billion.

The country's foreign trade surplus exceeded $9.7 billion in January-August 2014.

According to the Azerbaijani State Statistics Committee, around 10.550 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-August 2015 or by 1.7 percent more than in the same period of 2014.

Around 1.182 billion manat was invested in Azerbaijani economy in August 2015 or by 13.8 percent less than investments in fixed capital in August 2014.

According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 26.675 billion manat in January-August 2015, which is 5.9 percent more compared to January-August 2014.

Thus, during this period, the nominal income of the population per capita increased by 4.5 percent and hit 2537,8 manat.

As of September 1, 2015, some 29,000 people were officially registered as unemployed in Azerbaijan, including 38.7 percent women.

In August 2015, the average rate of manat to the U.S. dollar was 1.05 manat per dollar, to euro - 1.17 manat per euro, to Russian rouble - 1.61 manat per 100 rouble.