General economic situation in Azerbaijan (january-september 2015)

A volume of Azerbaijan's GDP amounted to 40.7 billion manat in January-September 2015 or by 3.7 percent more than in the same period of 2014.

The non-oil sector of the economy increased by 6.4 percent compared to the same period of 2014. Its share in the country's GDP hit 68.8 percent or by 10.3 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 31.2 percent of GDP or by 0.1 percent less compared to the same period of 2014.

Some 54.25 percent was formed in the field of production during this period. The value added share generated in industry makes up 34.2 percent (13.93 billion manat), construction was 13.5 percent (5.48 billion manat), agriculture, forestry and fishery was 6.5 percent (2.66 billion manat).

Net taxes on products and import accounted for 7.5 percent of the country's GDP.

The report said that 37.25 percent of the gross output was created in the service sector.

Moreover, 10.1 percent of GDP (4.09 billion manats) formed in the service sector, accounted for the trade and repair of vehicles, 5.7 percent (2.3 billion manats) - transport and warehousing, 2.6 percent (1.07 billion manats) - tourist accommodation and catering sphere, two percent (801.8 million manats) - information and communication services, 17.9 percent (7.3 billion manats) - other services.

The volume of value-added production in the construction sector increased by six percent in Jan.-Sept. of 2015, compared to the same period of 2014, tourist accommodation and catering - 15.1 percent, trade and repair of vehicles - 11.4 percent, information and communication services - 8, 8 percent, industry, transport and warehousing - 0.4 percent, other services - 3.8 percent, agriculture, forestry and fish farms - 6.7 percent.

The Azerbaijani non-oil industry increased by 10.2 percent in January-September, while the oil industry dropped by 0.7 percent compared to the same period of 2014.

The total industrial production (a volume of production and rendered industrial services) in Azerbaijan for the period amounted to 19.7 billion manat, which is 2.1 percent more than in the same period of 2014.

During the reporting period, the volume of production in the mining industry hit 12.3 billion manat with a weight of 62.6 percent of the entire industrial production, which is 1.4 percent more than in January-September 2014.

Oil production volume amounted to 31.4 million metric tons, while natural gas production was 21.68 billion cubic meters.

Oil production decreased by 2.3 percent, while gas production - by 2.1 percent compared to January-September 2014.

The production volume in the processing industry amounted to 5.8 billion manat (29.4 percent of total industrial output) in January-September 2015 or by 9.4 percent more than in January-September 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 74.1 percent, repair and installation of equipment - by 2.1 times, and the chemical industry - by 97.2 percent.

Production, distribution and supply of electricity, gas and steam increased by 2.2 percent compared to January-September 2014, but water supply, treatment and recycling of waste - by 2.8 percent.

Azerbaijan produced 251 trucks in January-September 2015 or by 24.3 percent more than in the same period of 2014. According to the report of the Azerbaijani State Statistics Committee for nine months of 2015, during this period, Azerbaijan produced 562 cars, which is 68.4 percent less than in January-September 2014. The country produced 754 tractors in January-September 2015, which is 24.3 percent less than in the same period of 2014.

There are two motor vehicle production plants in Azerbaijan - the Nakhchivan and the Ganja plants.

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 25.2 percent in January-September 2015 by reducing the production of silver by 65.6 percent. Some 1756.9 kilograms of precious metals (including 183.3 kg in September)were produced in January-September 2015, which is 12.6 percent more compared to January-September 2014.

The stocks of precious metals as of October 1, 2015 amounted to 66 kg (-25.8 kg in September). The production totaled 1682.2 kg of gold (including 171.4 kg in September) and 74.7 kg of silver (1.9 kg) in January-September. The stocks of gold reached 60.6 kg (-17.7 kg in September) and 5.4 kg of silver (+0.2 kg) as of October 1, 2015.

The agricultural production volume in actual prices amounted to 4.81 billion manat in Azerbaijan in January-September 2015 or by 11.6 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 2.5 percent, crop production - by 10.4 percent.

According to the State Statistics Committee, as of October 1, 2015, the Azerbaijani consumer market amounted to 23.941 billion manat, which is 10.3 percent more than its turnover for the same period of 2014. The monthly consumer expenses are estimated at 279.6 manat per capita in January-September 2015 or by 33 manat more compared to January-September 2014.

According to the State Statistics Committee, the prices on consumer goods and tariffs on services increased by 0.3 percent in September 2015 compared to the previous month. The inflation hit 3.7 percent in January-September 2015 compared to the same period of 2014.

The foreign trade turnover with 148 world countries amounted to $15.35 billion in January-September 2015, or 35.72 percent less than in January-September 2014. The volume of exports decreased by 49.77 percent and amounted to $8.77 billion compared to January-September 2014. The volume of import increased by 0.87 percent and amounted to $6.58 billion.

Azerbaijan exported 2,246 goods and imported 5,892 different goods.

As of January-September 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.19 billion.

The country's foreign trade surplus exceeded $10.83 billion in January-September 2014.

At the same time, the exports amounted to $586.69 million, while imports - $679.97 million in September 2015. As a result, a foreign trade surplus worth almost $93.3 million was formed in September.

According to the Azerbaijani State Statistics Committee, around 11.831 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-September 2015 or by 0.5 percent more than in the same period of 2014.

Around 1.281 billion manat was invested in Azerbaijani economy in September 2015 or by 9.9 percent less than investments in fixed capital in September 2014.

According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 30.123 billion manat in January-September 2015, which is 5.8 percent more compared to January-September 2014.

Thus, during this period, the nominal income of the population per capita increased by 4.5 percent and hit 3165,9 manat.

As of October 1, 2015, the unemployment benefit reached 255.4 manat compared to 250.8 manat as of September. As of October 1, some 1,955 people received the benefit versus 2,125 people as of September 1, some 2,289 people as of July 1, some 961 citizens as of April 1, some 1,613 people as of January 1, 2015.

In September 2015, the average rate of manat to the U.S. dollar was 1.05 manat per dollar, to euro - 1.18 manat per euro, to Russian rouble - 1.58 manat per 100 rouble.