General economic situation in Azerbaijan (January-November 2015)

A volume of Azerbaijan's GDP amounted to 50.1 billion manats in January-November 2015 or by 3.1 percent more than in the same period of 2014.

The non-oil sector of the economy increased by 4 percent compared to the same period of 2014. Its share in the country's GDP hit 69.3 percent.

The volume of value added production in the oil and gas extraction and processing hit 30.7 percent of GDP or by 1.8 percent more compared to the same period of 2014.

Some 53.3 percent was formed in the field of production during this period. The value added share generated in industry makes up 36.7 percent (16.85 billion manats), construction was 13.67 percent (6.85 billion manats), agriculture, forestry and fishery was 5.9 percent (nearly 3 billion manats).

Net taxes on products and imports amounted to 7.9 percent of Azerbaijan's GDP.

Some 38.7 percent of the gross output was created in the sector of services.

Around 9.9 percent (nearly 5 billion manats) of GDP in the sector of services accounted for the trade and repair of vehicles, 5.5 percent (2.7 billion manats) - transport and warehousing, 2.7 percent (1.3 billion manats) - tourist accommodation and catering sphere, 2 percent (985.3 million manats) - the information and communication services, 18.7 percent (9.4 billion manats) - social and other services.

The volume of value added production in Azerbaijan`s construction sector increased by 1.9 percent, tourist accommodation and catering - 13.8 percent, information and communication services - 6.8 percent, trade and repair of vehicles - 11.1 percent, agriculture, forestry and fishery - 6.7 percent in January-October 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

50057,5

100,0

103,1

production of goods

16851,8

33,6

101,9

including

- industry

2975,4

5,9

106,7

- agriculture

6846,8

13,6

99,2

- construction

2730,8

5,5

99,1

Production of services

985,3

1,9

106,8

including:

- transport

4978,8

9,9

111,1

- communications

3971,4

7,9

106,3

- tourism and public food facilities

1337,5

2,67

113,8

- trade and repair

89,9

Azerbaijan's non-oil and oil sectors have grown by 7.5 percent and 0.6 percent, respectively in Jan.-Nov. 2015, compared to the same period in 2014, said the report issued by the country's State Statistical Committee.

The total volume of industrial production (volume of products and rendered services in industry) stood at 24 billion manats during the reporting period, or three percent more than in the same period in 2014.

The volume of production in mining industry totaled 15 billion manats and accounted for 62.4 percent of the total industrial production, or 2.8 percent more than in Jan.-Nov. 2014.

Moreover, 38.316 million tons of oil were produced in Azerbaijan in Jan.-Nov. 2015, while the gas output hit 27.09 billion cubic meters, including 18.068 billion cubic meters of commercial gas.

During the reporting period, the oil and gas production in Azerbaijan dropped by 0.5 percent and 0.2 percent, respectively compared to Jan.-Nov. 2014, while a 6.3 percent increase was recorded in commercial gas production.

The volume of production in processing industry increased by 7.1 billion manats (29.5 percent of the total volume of industrial production) in Jan.-Nov. 2015, or 6.5 percent more than in the same period in 2014.

The highest growth in this sector was recorded in the production of jewelry, musical instruments, sports and medical equipment, installation and repair of machines and equipment - 2.1 times, manufacturing computers, electronic and optical products - twofold, printing products - by 79.1 percent, wood products - 52.9 percent and chemical industry - 48 percent.

Production, distribution and supply of electricity, gas and steam increased by 0.3 percent in Jan.-Nov. 2015, compared to the same period in 2014, while water supply, treatment and recycling of waste increased by two percent.

Azerbaijan produced 334 trucks in January-November 2015, which is 45.9 percent more than in January-November 2014, the Azerbaijani State Statistics Committee's report as of January-November 2015 said.

Some 728 motor cars were produced in the reporting period or by 60.9 percent less than in the same period of 2014.

Around 941 tractors were produced in Azerbaijan in January-November 2015, which is 17.2 percent less than in the same period of 2014, according to the report.

Currently, two plants manufacturing vehicles - Nakhchivan and Ganja automobile plants - operate in Azerbaijan.

Azerbaijan increased gold production by 21.3 percent in January-November 2015, reducing the production of silver by 54.4 percent. Some 2148.5 kilograms of precious metals were produced in January-November 2015, which is 12.1 percent more than in January-November 2014. The production was 2042.8 kilograms of gold (including 152.1 kg in November) and 105.7 kilograms of silver (13.6 kg) in January-November.

The agricultural production volume in actual prices amounted to 5.38 billion manat in Azerbaijan in January-November 2015 or by 6.7 percent more compared to the same period of 2014.

In particular, the crop production volume amounted to 2.741 billion manat, while cattle breeding volume - 2.642 billion manat.

According to the State Statistics Committee, as of December 1, 2015, the Azerbaijani consumer market amounted to 29.836 billion manat, which is 9.8 percent more than its turnover for the same period of 2014. The monthly consumer expenses are estimated at 284.8 manat per capita in January-November 2015 or by 32.5 manat more compared to January-November 2014.

According to the State Statistics Committee, the prices on consumer goods and tariffs on services increased by 0.4 percent in November 2015 compared to October.

The food prices increased by 0.9 percent, non-food items and tariffs for services remained unchanged in November (compared to the previous month).

The inflation hit 3.7 percent in January-November 2015 compared to the same period of 2014.

The food prices increased by 5.9 percent, non-food items - 3.1 percent, tariffs for services - 1 percent in Azerbaijan in January-November 2015 compared to the same period of 2014.

The foreign trade turnover with 162 world countries amounted to $17.21 billion in January-November 2015, or 34.73 percent less than in January-November 2014. The volume of exports decreased by 48.73 percent and amounted to $10.6 billion compared to January-November 2014. The volume of import increased by 1.03 percent and amounted to $8.2 billion.

Azerbaijan exported 2,391 goods and imported 6,102 different goods.

As of January-November 2015, the nominal index of export exceeded import. This formed the foreign trade surplus to the amount of $2.4 billion.

The country's foreign trade surplus exceeded $12.6 billion in January-November 2014.

According to the Azerbaijani State Statistics Committee, around 14.439 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-November 2015 or by 1.9 percent less than in the same period of 2014.

Around 1.352 billion manat was invested in Azerbaijani economy in November 2015 or by 8.3 percent less than investments in fixed capital in November 2014.

According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 36.770 billion manat in January-November 2015, which is 5.7 percent more compared to January-November 2014.

Thus, during this period, the nominal income of the population per capita increased by 4.4 percent and hit 3860,5 manat.

As of December 1, 2015, the economically active population totaled 4.91 million people, of which 4.67 million people were engaged in labour activity.

Thus, as of November 1, 2015, the number of hired employees hit over 1.5 million people, including 877,900 people worked in the public sector, and 626,800 people - in private sector.

As of December 1, 2015, some 29,000 people were officially registered as unemployed in Azerbaijan, including 38.6 percent women. The number of unemployed in the country increased by 0.35 percent compared to the same period of 2014.

In November 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 - 1.62 manat per 100 rouble.

Germany's Lufthansa posts first-quarter net loss of 2.1 billion euros
Germany's Lufthansa posts first-quarter net loss of 2.1 billion euros
Italy's death toll from coronavirus climbs to 33,530
Italy's death toll from coronavirus climbs to 33,530
Spain reports no new COVID-19 deaths for 2nd consecutive day
Spain reports no new COVID-19 deaths for 2nd consecutive day
Loading Bars
Latest
LNG industry to see first seasonal demand contraction since 2012
Well-known Chinese company registers as taxpayer in Uzbekistan
Uzbekistan reports 107 new COVID-19 cases
Kazakhstan’s oil producing company to buy accumulators via tender
Turkey sees drop in number of driven vehicles
IMF predicts decline in Georgia's foreign direct investments
LUKOIL opens new filling station in Azerbaijan
Kazakhstan's Samruk-Kazyna eyes selling its share in Kazatomprom
Iran's export via borders triples
WhatsApp, PayPal invest in Indonesian super app Gojek
Germany's Lufthansa posts first-quarter net loss of 2.1 billion euros
Azerbaijan sets regulations for agricultural insurance system
Kyrgyzstan reports 26 new COVID-19 cases
Number of COVID-19 cases up in Kazakhstan
S. Korea reports 49 more cases of new coronavirus, total now at 11,590
NYPD: Officers fatally shoot man pointing gun at them
Chinese mainland reports no new domestically transmitted COVID-19 cases
Brazil’s coronavirus death toll exceeds 30,000
3 killed when helicopter hits power line in California
U.S. senator wants defense bill to ban use of military against peaceful protests
At least 11 people die, hundreds injured in US protests
Number of COVID-2019 cases across globe up by over 113,000 in past day - WHO
61 more coronavirus patients die in Moscow in past day
Turkey, Russia to start joint work to develop COVID-19 vaccine
Italy's death toll from coronavirus climbs to 33,530
Israeli missile hits test target 400 kilometers away
Spain reports no new COVID-19 deaths for 2nd consecutive day
Minnesota files civil rights charge vs police in Floyd death
Britain, EU clash over financial market access: diplomats
Paris police fire tear gas at protest of racial injustice
1 killed, 3 wounded in explosion in Kabul
UK COVID-19 deaths hit 39,369 as another 324 patients die
NYC extends curfew all week; mayor says no to National Guard
U.S. sanctions four shipping firms for transporting Venezuelan oil
Saudi Arabia reports 1,869 new COVID-19 cases, tally near 90,000
Turkey's COVID-19 cases top 165,000 as new infections drop for 5th straight day
Azerbaijan discloses number of coronavirus tests
Azerbaijan presents facts on Armenia’s crimes to UN Security Council
Serbia’s coronavirus cases reach 11,454
Azerbaijan’s Lankaran cannery talks about plans for 2020
Azerbaijani company talks production of disinfection equipment for escalators
Georgian airports preparing to receive visitors
Returning of deposits in liquidated banks starts in Azerbaijan
MFA: Armenia must put end to policy of annexation and withdraw occupying forces from Azerbaijani territories
Six Azerbaijani insurers reduced collection of premiums from Jan. through Apr. 2020
Revenues from international visits down in Georgia
Sales through Azerbaijan's Azexport website increase
15 insurers increased collection of premiums in Azerbaijan from Jan. through Apr. 2020
New fruit storage company begins operating in Georgia
Georgia talks country's public debt management policy
LUKOIL's Kazakhstan-based plant makes first oils shipments to China
Turkey talks completion date for pier construction in Istanbul
Azerbaijani Rabitabank's financial indicators many-fold exceed CBA's minimum requirements
Turkmenistan, other participants of ECT Modernization Group to ensure energy transit
Kazakhstan to start reconstruction of runways in two more airports
Azerbaijan reports 273 new COVID-19 cases
Turkey's export of fruits to France slightly up
Azerbaijan's Central Bank holds foreign exchange auction
TOP-3 non-oil export products of Azerbaijan
Georgia signs loan agreement with Asian Development Bank
Mastercard for Azerbaijan, Turkey working on creating cashless environment
Construction of first GTL plant of Uzbekistan nearing completion
Sumgait Technologies Park ships first batches of aluminum profiles to Kazakhstan
Turkey-Kazakhstan trade turnover declines
Azerbaijan’s Agricultural Insurance Fund upgrading service quality
Union of Economists of Turkmenistan creates digital technology department
CISCO conducting consultations on participation in big innovative projects in Azerbaijan (Interview)
Renewable electricity proves to cheapest as improving technologies leads to price drop
Kulevi oil terminal: Anticorrosion works completed at several facilities
Azerbaijani minister: Financially, some state-owned companies aren't stable
Iran's President urges companies involved in Justice Shares sale to ensure transparency
COVID-19-led digitalization to change how businesses operate and consumers live
PM Modi Holds Highest 'Approval Rating' Among World Leaders Handling the Pandemic: Report
Turkey-China trade turnover downgrades
Azerbaijan’s PASHA Sigorta company offers free consultations of psychologist, pediatrician
Georgia installs solar panels in over 80 villages
Work on commissioning of Baku-Tbilisi-Kars railway line in Georgia continues
Turkmenistan talks laying power transmission line alongside TAP pipeline
Tender to build schools, kindergartens opens in Turkmenistan's Balkan region
Turkmenistan's Turkmengas opens tender fortesting of lab equipment
Turkish ministry allows industrial company to participate in BOTAS tenders
Finance minister: Negative effects of quarantine on Azerbaijan's economy were inevitable
China approves $20 billion mega petchem complex in Shandong oil hub
FAO, WFP to jointly support Kyrgyz rural families to combat COVID-19
Volume of ethanol handled via Turkish ports from Jan. through Apr. 2020 disclosed
Turkey's export to EU from Jan. through Apr. 2020 shrinks
EBRD eyeing optimizing debt maturity profile of Kazakhstan's Eastcomtrans
Uzbek enterprise starts construction of modern residential complex
Azerbaijani finance minister: No problems with fulfillment of state budget for 2020
Uzbekistan to sell state share in major chemical enterprise
Uzbek-Korean JV opens tender for procurement of panoramic mirrors
Iran's Plan & Budget Organization talks unemployment rate in country
China's Wuhan finds no new COVID cases, 300 asymptomatics in tests
Azerbaijan discloses data on oil, gas sectors trade turnover
Azerbaijan imposes new rules for visitors of malls
Georgia taking measures to support winemaking sector
Azerbaijan sees growth in fruit, vegetable exports
Azerbaijan starts exporting persimmon to UAE
Iran has sufficient foreign currency reserves - CBI
Trade turnover between Turkey, Uzbekistan plunges by over half in April 2020
All news