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.

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