A total volume of Azerbaijan's GDP amounted to 21.5 billion manat in January-May 2016 or by 4.2 percent less than in the same period of 2015, the Azerbaijani State Statistics Committee's report said.
The Azerbaijani economy mainly decreased because the volumes of production of goods and services in the construction and transport sectors decreased by 37 percent and 9.5 percent accordingly," the report says.
The economy's non-oil sector decreased by 7 percent in January-May 2016 compared to January-May 2015 and its share in the country's GDP was 64.2 percent.
The volume of value added production in the oil and gas extraction and processing hit 35.8 percent of GDP. One percent growth was observed compared to January-May 2015.
Some 51.9 percent was formed in the field of production during this period. Some 39.8 percent (almost 8.57 billion manat) accounted for industry, 8.6 percent (1.85 billion manat) - construction, 3.5 percent (747.5 million manat) - agriculture, forestry and fishery.
Net taxes on products and imports amounted to 7.7 percent of Azerbaijan's GDP.
According to the report, some 40.4 percent was formed in the field of services during this period.
The value added share generated in trade and vehicle repair hit 12.2 percent (2.6 billion manat), transport and warehousing - 6.6 percent (1.4 billion manat), tourist accommodation and catering - 3.2 percent (680.5 million manat), information and communication - almost 2 percent (425.3 million manat), other spheres - 16.4 percent (almost 3.5 billion manat).
During this period, the value added production volume in industry increased by 1.1 percent, trade and repair of vehicles - 1.9 percent, tourist accommodation and catering - 3.4 percent, information and communication services - 11.1 percent, agriculture, forestry and fishery - 5.8 percent compared to January-May 2015.
|
|
Value added in mln manat |
Special weight, % |
Growth compared to reporting period of last year, % |
|
GDP in total |
21512,8 |
100,0 |
95,8 |
|
production of goods |
8566,4 |
39,8 |
101,1 |
|
- agriculture |
747,5 |
3,5 |
105,8 |
|
- construction |
1849,6 |
8,6 |
63,0 |
|
- transport |
1428,5 |
6,6 |
90,5 |
|
- communications |
425,3 |
2,0 |
111,1 |
|
- trade and repair |
2615,2 |
12,2 |
101,9 |
|
Net taxes on products |
1665,3 |
7,7 |
95,0 |
|
tourist accommodation and catering |
680,5 |
3,2 |
103,4 |
|
deflator |
110,3 |
||
The telecommunication sector was the most dynamic sector in Azerbaijan in January-May 2016.
According to the State Statistics Committee, as of January-May 2016, value added worth 425.3 million manat was observed in the sector or by 11.1 percent more than the sectoral GDP. The telecommunication sector in the reporting period surpassed such sectors as hospitality and food, where GDP reached 680.5 million manat, increasing by 3.4 percent compared to January-May 2015. In terms of growth, the ICT sector surpassed the retail trade (2.615 billion manat with a 12.2 percent growth).
Azerbaijan’s non-oil sector showed 3.5 percent growth in January-May 2016, while the oil sector reduced by 0.8 percent compared to the same period of 2015.
The total volume of industrial production (the volume of produced goods and rendered industrial services) in Azerbaijan amounted to 12.1 billion manat during this period, which is 0.3 percent less than in January-May 2015.
During the reporting period, the volume of production in the mining industry hit 7.8 billion manat (64.5 percent) of the entire industrial production, which is 0.3 percent less than in January-May 2015.
Oil production volume amounted to 17.5 million tons, while natural gas production was 12.45 billion cubic meters during this period.
Oil production decreased by 0.7 percent, gas production increased by 0.5 percent during this period compared to January-May 2015.
Some 946.6 kilograms of precious metals (including 219.4 kg in May) were produced in January-May 2016, which is 0.9 percent more than in the same period of 2015. The production was 784.3 kilograms of gold (187.2 kg in May) and 162.3 kilograms of silver (32.2 kg) in January-May.
The production volume in the processing industry amounted to 3.5 billion manat (28.6 percent of total industrial output) during this period or by 2.3 percent more than in the same period of 2015.
In this sector, the highest growth was fixed in the production of computers, electronic and optic products – by 3.1 times, weaving industry – by 2.9 times, repair and installation of machinery and equipment - by 2 times.
Production, distribution and supply of electricity, gas and steam decreased by 6.2 percent in January-May compared to the same period of 2015, but water supply, treatment and recycling of waste - by 0.8 percent.
Azerbaijan has manufactured 106 trucks in January-May 2016, or 18.5 percent less as compared to the same period in 2015.
The country manufactured 253 tractors in January-May 2016, or 43.9 percent less than in the same period of 2015.
Two vehicle manufacturing plants operate in Azerbaijan, one in Nakhchivan and another in Ganja city.
According to the Azerbaijani State Statistics Committee’s report, the livestock production increased by 3.3 percent, crop production - by 24 percent for this period.
The agricultural production volume in actual prices amounted to 1.34 billion manat in Azerbaijan in January-May 2016 or by 5.8 percent more compared to the same period of 2015.
According to the State Statistics Committee, as of January-May 2016, the Azerbaijani consumer market amounted to 14.184 billion manat, which is 1.8 percent more than its turnover for the same period of 2015. The monthly consumer expenses are estimated at 295.3 manat per capita in January-May 2016 or by 31.6 manat more compared to January-May 2015.
According to the State Statistics Committee, inflation in the country amounted to 10.4 percent in January-May 2016 compared to January-May 2015.
The food prices increased by 11.9 percent, non-food items – 15.3 percent and tariffs for services – 4.4 percent in January-May 2016 compared to January-May 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 155 world countries amounted to $6.38 billion in January-May 2016, or 31.78 percent less than in January-May 2015. The volume of exports decreased by 42.26 percent and amounted to $3.05 billion compared to January-May 2015. The volume of import decreased by 18.19 percent and amounted to $3.33 billion.
Red ink worth $281.47 million was in Azerbaijan’s foreign trade operations during this period.
According to the Azerbaijani State Statistics Committee, around 5.389 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-May 2016 or by 16.1 percent less than in the same period of 2015.
Around 1.097 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in May 2016 or by 29.09 percent less than in the same period of 2015.
According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 17.512 billion manat in January-May 2016, which is 8.3 percent more compared to January-May 2015.
Thus, during this period, the nominal income of the population per capita increased by 7 percent and reached 1822,9 manat.
As of June 1, 2016, some 34,000 people were officially registered as unemployed in Azerbaijan or by 16 percent more than as of June 1, 2015, including 37.8 percent women.
In May 2015, the average rate of manat to the U.S. dollar was 1.50 manat versus dollar (1.55 manat as of early 2016), to euro – 1.70 manat versus euro (1.73 manat), to Russian rouble – 2.28 manat versus 100 rouble (2.19 manat).