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.

Value added

in mln manat

Special weight,

%

Growth compared to reporting period of last year, %

GDP in total

40678,4

100,0

103,7

production of goods

13932,1

34,2

100,4

including

- industry

2656,9

6,5

106,7

- agriculture

5477,9

13,5

106,0

- construction

2302,1

5,6

100,4

Production of services

801,8

1,9

108,8

including:

- transport

4092,8

10,1

111,4

- communications

3040,9

7,5

107,9

- tourism and public food facilities

88,2

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.

South Korean PM to visit Iran for Seoul-Tehran Cooperation
South Korean PM to visit Iran for Seoul-Tehran Cooperation
Iran, Turkmenistan strike deal on co-op in a number of fields (PHOTO/VIDEO)
Iran, Turkmenistan strike deal on co-op in a number of fields (PHOTO/VIDEO)
Iran and Kazakhstan sign cooperation document (PHOTO/VIDEO)
Iran and Kazakhstan sign cooperation document (PHOTO/VIDEO)
Loading Bars
Latest
Iran's Energy Exchange announces products to be on sale on April 11
Uzbekistan ready to actively partake in restoring Azerbaijan's liberated territories
Azerbaijan confirms 2,192 more COVID-19 cases, 1,554 recoveries
Turkey did its best in media coverage of Azerbaijan's Patriotic war - presidential administration
Azerbaijani president's assistant meets with Turkic Council's secretary-general
Briefing of Turkic Council's high-ranking media officials held in Baku (VIDEO)
Anti-Turkic campaigns periodically carried out - Azerbaijani president's assistant
Azerbaijan's victory in Second Karabakh War is victory for entire Turkic world - top official
Azerbaijan working to develop ties between Turkic states - president's assistant
Turkic Council developing roadmap for better co-op with Turkic-speaking countries
Turkic-speaking countries to continue to support Azerbaijan - Turkic Council
Armenia's refusal to provide maps of mines on Azerbaijan's lands is concerning - ambassador
Turkic Council's meeting held in Baku (PHOTO)
Iran reveals COVID-19 data for April 10
Kazakh, Uzbek PMs launch construction of new 'Central Asia' int'l co-op center
Turkish Ambassador: I've never separated Azerbaijan and Turkey, both are homeland to me
Buta Airways to Start Operating Flights to Zhukovsky Airport
Turkey's support for Azerbaijan in Karabakh war will always be in our memory - President Aliyev
Azerbaijan's MoD organizes visit for foreign military attaches to Air Force military unit
Turkish-Azerbaijani fraternal relations are at highest level today - President Aliyev
Iran's exports via Jolfa border checkpoint increase
Georgia reports 506 new coronavirus cases for April 10
SOCAR's capex to moderate due to SGC, STAR refinery’s commissioning
Certain licenses issued to setting up enterprises in Iran's Markazi Province
Turkey unveils 2M2021 data on freight, passenger traffic through Ankara Esenboga Airport
Azerbaijani oil prices up
Fitch Affirms SOCAR at 'BB+'
Turkmenistan's state budget revenues surpass initial forecast
Georgian TBC Leasing's secured debt rating equalizes with its Long-Term IDR
Azerbaijani president awards former Turkish ambassador with 'Dostlug' order
President Ilham Aliyev receives Turkish Ambassador to Azerbaijan Erkan Ozoral (PHOTO)
Turkmenistan's GDP grows in 1Q2021
Weekly review of Azerbaijani currency market
Iranian currency rates for April 10
Azerbaijan has favorable investment climate - Turkish MUSIAD
Azerbaijani Mine Action Agency continues to clear Gubadly, Zangilan, Jabrayil from mines
India reports a record 145,384 COVID-19 infections
Armenia set up booby traps on Azerbaijan's de-occupied lands - Mine Action Agency
Azerbaijan's rhythmic gymnasts 2-nd in online tournament organized by Finnish Gymnastics Federation
Azerbaijani gymnastics team captures silver in Egypt (PHOTO)
China's top market regulator imposes penalty on Alibaba Group over monopoly conduct
Iran's Isfahan producing 2,100 tons of medicinal herbs
Japanese entrepreneurs intend to increase imports of Kyrgyz honey
Austrian companies eye contribution to Georgian ports' expansion - ministry
Turkey reports 55,791 new COVID-19 cases
Germany to amend law for nationwide COVID-19 response
World Bank says Azerbaijan's consumer market to grow till 2023
Janssen's COVID-19 vaccine under EU review over blood clots
Number of COVID-2019 cases across globe up by over 718,000 in past day, says WHO
Poland's COVID-19 cases top 2.5 mln
Georgian-Lithuanian co-op facilitates freight transport between China, Europe - Ministry
US accelerator to provide Azerbaijani startup project with big investments
Eurowings to start flights from Dusseldorf to Georgia
NASA's Mars helicopter to attempt first flight
Health Minister hails vaccination in driving down COVID-19 severity in Turkey
Saudi-led coalition intercepts bomb-laden drone towards border city
Azerbaijani president expresses condolences to PM of UK
UN interested in intensifying ties with Azerbaijan - President of General Assembly
Azerbaijani FM, Sec-Gen of Turkic Council discuss issues of mutual interest (PHOTO)
"Georgia Capital" investment company to sell part of its business
Iran's only option on negotiation table - US lifting sanction - Iran’s ambassador to IAEA
Turkmen Helath Ministry opens tender for purchase of medical supplies
South Korean PM to visit Iran for Seoul-Tehran Cooperation
Speaker of Azerbaijani parliament meets with president of 75th session of UN General Assembly (PHOTO)
Azerbaijani president expresses condolences to Queen Elizabeth II
Azerbaijan clearing territory for new settlement of mines in Zangilan district
Azerbaijan aims developing use of wind energy
Russian, Turkish presidents call for restoration of transport infrastructure of South Caucasus
Azerbaijan actively participates in implementation of int’l projects within BTK and North-South corridors
State Oil Company of Azerbaijan digitizes information on oil and gas wells in corporate database
Azerbaijani, Turkish armies Joint Operational-Tactical Exercises end (PHOTO/VIDEO)
International Bank of Azerbaijan opens tender to buy network equipment
Russia always ready for settlement option supported by sides of Karabakh conflict - Foreign Ministry
State Oil Company of Azerbaijan hosts opening ceremony of Visualization Center (PHOTO)
Embassy of India organizes Interactive Webinar to promote Indian spices (PHOTO)
Bank Melli Iran’s branch in Azerbaijan completes Q1 2021 with profit
Uzbekistan receives status of GSP+ system's beneficiary
Turkmenistan's Turkmenhimiya SC opens tender for ammonium nitrate purchase
Turkish business’s interest in Azerbaijan’s Khachmaz district growing (PHOTO)
Azerbaijani defense minister meets with Turkish ambassador
Mine Terror: Armenia's terrifying deceit – Trend’s video project
Georgia and Israel agree on legal employment
President of VimpelCom points out necessity to observe balance between security and privacy on Internet
Latvia looks to promote further cooperation with Azerbaijan in education
U.S. producer prices surge in March
Development Bank of Kazakhstan looking to expand co-op with Turkish businessmen
Main reasons for drop in Kazakhstan's foreign reserves unveiled
Azerbaijan restores production of silk carpets
US, Azerbaijan, Turkey, Georgia to discuss further co-op on cargo transportation
Azerbaijan National Depository Center discloses volume of coupon payments to investors in March
Azerbaijan publishes latest data on vaccinated citizens
Turnover on payment cards in Azerbaijan spikes by late February 2021
Israel Canada to build 450 prestige homes in Hod Hasharon
Spain cuts 2021 growth forecast to 6.5% after first-quarter contraction
Azerbaijan's State Tax Service introducing innovations in its database processing system
Canada adds 303,100 jobs in March, unemployment rate falls to 7.5%
Iran's banking problem to continues if FATF related bills not approved - CBI
Azerbaijan confirms 2,206 more COVID-19 cases, 1,578 recoveries
Iran still waiting for its foreign currency revenues to arrive
EU gas production falls amid rising gas consumption
All news