A total volume of Azerbaijan's GDP amounted to 27 billion manat in January-June 2016 or by 3.4 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 sector decreased by 33.6 percent," the report says.
In the first half of 2016, some 38.5 percent of GDP in Azerbaijan was formed in industry, 11.8 percent - in trade and repair of motor vehicles, 9.1 percent - in construction, 6.8 percent - in transport and warehousing, 5.1 percent - in agriculture, forestry and fisheries, 2.8 percent - in the areas of tourist accommodation and catering, two percent - in the field of information and communications, 16 percent - in other spheres.
The economy's non-oil sector decreased by 5.1 percent in January-June 2016 compared to January-June 2015 and its share in the country's GDP was 65.2 percent. The volume of value added production in the oil and gas extraction and processing hit 34.8 percent of GDP. A 2.1 percent growth was observed compared to January-June 2015.
Net taxes on products and imports amounted to 7.6 percent of Azerbaijan's GDP.
In comparison with January-June 2015, the volume of value added production in the field of information and communication services rose by 13.7 percent, tourist accommodation and catering - 3.3 percent, agriculture, forestry and fisheries - 3,1 percent , processing industry - 2.5 percent, mining industry - 2.3 percent, trade and repair of vehicles - 1.9 percent.
|
Value added in mln manat |
Special weight, % |
Growth compared to reporting period of last year, % |
|
|
GDP in total |
27002,3 |
100,0 |
96,6 |
|
production of goods |
10398,3 |
38,5 |
101,8 |
|
- agriculture |
1385,8 |
5,1 |
103,1 |
|
- construction |
2468,1 |
9,1 |
66,4 |
|
- transport |
1834,7 |
6,8 |
95,0 |
|
- communications |
527,3 |
2,0 |
113,7 |
|
- trade and repair |
3176,4 |
11,8 |
101,9 |
|
Net taxes on products |
2047,4 |
7,6 |
95,4 |
|
tourist accommodation and catering |
751,9 |
2,8 |
103,3 |
|
deflator |
109,3 |
||
The telecommunication sector was the most dynamic sector in Azerbaijan in January-June 2016.
According to the State Statistics Committee, as of January-June 2016, value added worth 527.3 million manat was observed in the sector or by 13.7 percent more than the sectoral GDP. The telecommunication sector in the reporting period surpassed such sectors as hospitality and food, where GDP reached 751.9 million manat, increasing by 3.3 percent compared to January-June 2015. In terms of growth, the ICT sector surpassed the retail trade (3.176 billion manat with a 1.9 percent growth).
Azerbaijan’s non-oil sector showed 2.4 percent growth in January-June 2016, and the oil sector increased by 0.4 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 14.75 billion manat during this period, which is 0.6 percent more than in January-June 2015.
During the reporting period, the volume of production in the mining industry hit 9.5 billion manat (64.6 percent) of the entire industrial production, which is 0.6 percent more than in January-June 2015.
Oil production volume amounted to 21 million tons, while natural gas production was 14.92 billion cubic meters during this period.
Oil production increased by 0.4 percent, gas production increased by 1.2 percent during this period compared to January-June 2015.
Some 1.169 kilograms of precious metals (including 222.7 kg in June) were produced in January-June 2016, which is 0.5 percent more than in the same period of 2015. The production was 973.8 kilograms of gold (179.5 kg in June) and 195.3 kilograms of silver (33.2 kg) in January-June.
The production volume in the processing industry amounted to 4.3 billion manat (28.9 percent of total industrial output) during this period or by 4.2 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 2.1 times, weaving industry – by 3 times, repair and installation of machinery and equipment - by 97.5 percent.
Production, distribution and supply of electricity, gas and steam decreased by 5.9 percent in January-June compared to the same period of 2015, but water supply, treatment and recycling of waste - by 0.3 percent.
In the first half of 2016, steel industry and enterprises for production of finished metal products in Azerbaijan produced products worth 173.6 million manat. The volume of production in metallurgical industry increased by 5.5 percent, and production of finished products - by 9.4 percent.
Azerbaijan has manufactured 225 trucks in January-June 2016, or 58.5 percent more as compared to the same period in 2015.
The country manufactured 367 tractors in January-June 2016, or 32 percent less than in the same period of 2015. During the reporting period, the country produced 56 cars, which is 82.8 percent less than in the first half of last year. The production of municipal special-purpose vehicles increased by 87.9 percent compared to January-June 2015 and amounted to 592 units. In the first half of the year, Azerbaijan produced 138 trailers and semi-trailers for transportation, which is 51.6 percent more 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 3.8 percent, crop production - by 2.4 percent for this period.
The agricultural production volume in actual prices amounted to 2.5 billion manat in Azerbaijan in January-June 2016 or by 3.1 percent more compared to the same period of 2015.
According to the State Statistics Committee, as of January-June 2016, the Azerbaijani consumer market amounted to 17.721 billion manat, which is 1.8 percent more than its turnover for the same period of 2015. The monthly consumer expenses are estimated at 307.3 manat per capita in January-June 2016 or by 32.9 manat more compared to January-June 2015.
According to the State Statistics Committee, inflation in the country amounted to 10.5 percent in January-June 2016 compared to January-June 2015.
The food prices increased by 11.9 percent, non-food items – 15.4 percent and tariffs for services – 4.5 percent in January-June 2016 compared to January-June 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 163 world countries amounted to $7.87 billion in January-June 2016, or 28 percent less than in January-June 2015. The volume of exports decreased by 38.65 percent and amounted to $3.8 billion compared to January-June 2015. The volume of import decreased by 13.98 percent and amounted to $4.05 billion.
Red ink worth $225.77 million was in Azerbaijan’s foreign trade operations during this period.
According to the Azerbaijani State Statistics Committee, around 6.769 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-June 2016 or by 14.6 percent less than in the same period of 2015.
Around 1.380 billion manat was invested in economy of Azerbaijan in June 2016 or by 8.5 percent less than in the same period of 2015.
According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 21.493 billion manat in January-June 2016, which is 8.4 percent more compared to January-June 2015.
Thus, during this period, the nominal income of the population per capita increased by 7.1 percent and reached 2.236 manat.
As of July 1, 2016, some 34,500 people were officially registered as unemployed in Azerbaijan or by 18.6 percent more than as of July 1, 2015, including 37.8 percent women.
In June 2015, the average rate of manat to the US dollar was 1.52 manat versus dollar (1.55 manat as of early 2016), to euro – 1.70 manat versus euro (1.73 manat), to Russian rouble – 2.32 manat versus 100 rouble (2.21 manat).