Azerbaijan began creating a strategic "roadmap" of the national economy and priority sectors in March for the country's sustainable economic development in the medium and long term. The main objectives of the "road map" are to ensure the sustainable economic growth, the proper definition of the development strategy of the additional sectors contributing to the creation of the leading sectors of the economy and the necessary economic infrastructure.
A total volume of Azerbaijan's GDP amounted to 12.59 billion manat in January-March 2016 or by 3.5 percent less than in the same period of 2015, the Azerbaijani State Statistics Committee's report said.
The main reason for the GDP decline is to decrease the volumes of production of goods and services in the construction and transport sectors by 32.5 percent and 14.5 percent accordingly, the report says.
Some 39 percent was formed in the field of production during this period. The value added share generated in trade and vehicle repair hit 13.3 percent, construction was 8.4 percent, agriculture, forestry and fishery was 2.8 percent, 6.7 percent - transport and warehousing, 3.5 percent - tourist accommodation and catering, 2 percent - information and communication, 16 percent - other spheres.
The economy's non-oil sector decreased by 5.7 percent compared to January-March 2015 and its share in the country's GDP was 65.4 percent.
The volume of value added production in the oil and gas extraction and processing hit 34.6 percent of GDP or by 0.8 percent more for the year.
Net taxes on products and imports amounted to 8.3 percent of Azerbaijan's GDP.
GDP per capita hit 1.312 manat ($827.3).
During this period, the value added production volume in information and communication services increased by 8.9 percent, trade and repair of vehicles - 3.4 percent, tourist accommodation and catering - 4.7 percent, agriculture, forestry and fishery - 2.7 percent, processing industry - 5.7 percent, mining industry - 0.7 percent compared to January-March 2015.
|
Value added in mln manat |
Special weight, % |
Growth compared to reporting period of 2015, % |
|
|
GDP in total |
12588,7 |
100,0 |
96,5 |
|
production of goods |
4906,2 |
38,1 |
100,9 |
|
- agriculture |
358,6 |
3,1 |
102,7 |
|
- construction |
1053,8 |
8,7 |
67,5 |
|
- transport |
846,1 |
7,2 |
85,5 |
|
- communications |
246,0 |
2,1 |
108,9 |
|
- trade and repair |
1671,4 |
12,9 |
103,4 |
|
Net taxes on products |
1051,0 |
10,6 |
96,7 |
|
tourist accommodation and catering |
442,4 |
3,6 |
104,7 |
|
deflator |
113,1 |
||
The telecommunication sector was the most dynamic sector in Azerbaijan in January-March 2016. According to the State Statistics Committee, as of January-March 2016, value added worth 246 million manat was observed in the sector or by 8.9 percent more than the sectoral GDP. The telecommunication sector in the reporting period surpassed the hospitality and food sector. GDP hit 442.4 million manat, increasing by 4.7 percent compared to January-March 2015. In terms of growth, the ICT sector surpassed the retail trade (1.671 billion manat with a 3.4 percent growth).
Azerbaijan's non-oil sector increased by 5.1 percent, while oil sector decreased by 1.3 percent in January-March 2016 compared to the same period of 2015.
The total industrial production volume (the volume of manufactured products and rendered industrial services) amounted to 7 billion manat in Azerbaijan during this period, which is 0.6 percent less than in January-March 2015.
The volume of production in mining industry totaled 4.4 billion manat with a 63.3 percent share in the total industrial production, or 1.2 percent less than in January-March 2015.
Some 10.52 million tons of oil and 7.56 billion cubic meters of gas were produced in the reporting period.
Oil production decreased by 1.5 percent in Azerbaijan during this period compared to January-March 2015, while gas production increased by 2 percent.
Some 2 billion manat accounted for the output in processing industry (28.7 percent of the total volume of industrial production) in January-March or 5.7 percent more than in the same period of 2015.
In this sector, the highest growth was recorded in the weaving industry - 3.2 times, repair and installation of machinery and equipment - by 2.4 times and production of computers, electronic and optical products - 2.4 times.
Production, distribution and supply of electricity, gas and steam decreased by 5.2 percent in January-March compared to the same period in 2015, while water supply, treatment and recycling of waste - by 4.5 percent.
Azerbaijan produced 226 trucks in January-March 2016, or 19 percent less than in January-March 2015.
Some 46 tractors were produced in Azerbaijan in January-March 2016, or 63.5 percent less than in the same period 2015.
Currently, two plants in Azerbaijan - the Nakhchivan and Ganja automobile plants - manufacture vehicles.
Some 519 kilograms of precious metals (including 210.3 kg in March) were produced in January-March 2016, which is 6.2 percent less than a year earlier. The production totaled 416.3 kg of gold (149.4 kg in March) and 102.7 kg of silver (60.9 kg) in January-March.
The agricultural production volume in actual prices amounted to 643.6 million manat in Azerbaijan in January-March 2016 or by 2.7 percent more compared to the same period of 2015.
According to the Azerbaijani State Statistics Committee's report, during this period the livestock production increased by 2.5 percent (630.7 million manat), crop production - by 9.2 percent (12.9 million manat).
According to the State Statistics Committee, as of January-March 2016, the Azerbaijani consumer market amounted to 8.826 billion manat, which is 3.2 percent more than its turnover for the same period of 2015.
The Azerbaijani trading networks sold consumer goods to the population at 6.793 billion manat in January-March 2016, which is 3.4 percent more than in the same period of 2015.
The monthly retail trade turnover amounted to 235.9 manat, which is 33.55 manat more than in January-March 2015.
According to the State Statistics Committee, inflation in the country amounted to 10.8 percent in January-March 2016 compared to January-March 2015.
The food prices increased by 13.1 percent, non-food items - 15.2 percent and tariffs for services - 4 percent in January-March 2016 compared to January-March 2015.
Such a high rate of inflation in the country was the result of the impact of national currency devaluation.
The foreign trade turnover with 140 world countries amounted to $3.61 billion in January-March 2016, or 37.98 percent less than in January-March 2015. The volume of exports decreased by 47.38 percent and amounted to $1.78 billion compared to January-March 2015. The volume of import decreased by 24.9 percent and amounted to $1.83 billion.
A negative balance worth $ 45.3 million was formed in Azerbaijani foreign trade operations during this period.
According to the Azerbaijani State Statistics Committee, around 2.877 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-March 2016 or by 11.1 percent less than in the same period of 2015.
The state budget investment has decreased by 82 percent due to saving the state funds since early 2016.
According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 10.303 billion manat in January-March 2016, which is 9 percent more compared to January-March 2015.
Thus, during this period, the nominal income of the population per capita increased by 7.7 percent and hit 1073,5 manat.
Some 37,000 new jobs, including 31,000 - permanent were created in January-March. Some 13,000 vacancies were closed. Most of new jobs were created in the public sector. The vacancies related to the public work were created. Of course, so many jobs were created in January-March for the social protection of people.
In March 2016, the average rate of manat to the U.S. dollar was 1.60 manat per dollar, to euro - 1.79 manat per euro, to Russian rouble - 2.28 manat per 100 rouble.