Azerbaijan’s GDP volume reached 25.34 billion manat in January-May 2017 that is by 0.9 percent less than in the same period of 2016, according to a report of the country’s State Statistics Committee.
GDP volume per capita reached 2610,3 manat.
Meanwhile, the volume of Azerbaijan’s non-oil GDP rose by 2.3 percent in January-May 2017 as compared to the same period of 2016.
The volume of Azerbaijan’s GDP in the oil and gas sector decreased by 6.5 percent in January-May 2017.
Thus, 44.1 percent (11.185 billion manat) of Azerbaijan’s GDP accounted for industrial sphere, 8.3 percent (2.091 billion manat) – for construction, 3.3 percent (848.4 million manat) – for agriculture, forestry and fishery.
Net taxes on production and import accounted for 7.1 percent of Azerbaijan’s GDP.
According to the report, 10.9 percent of the GDP (2.751 billion manat), produced in the service sector, accounted for trade and maintenance of vehicles, 7.3 percent (1.853 billion manat) – for transport and warehousing, 2.7 percent (694.8 million manat) – for accommodation of tourists and catering, 1.8 percent (447.7 million manat) – for information and communication services, 14.5 percent (3.677 billion manat) – for other services.
|
|
Value added in mln manat |
Special weight, % |
Growth compared to reporting period of 2016, % |
|
GDP in total |
25338,7 |
100,0 |
99,1 |
|
industry |
11185,0 |
44,1 |
94,3 |
|
agriculture |
848,4 |
3,3 |
102,0 |
|
construction |
2091,5 |
8,3 |
100,4 |
|
transport |
1852,9 |
7,3 |
105,3 |
|
communications |
447,7 |
1,8 |
104,9 |
|
trade and repair |
2750,7 |
10,8 |
101,9 |
|
tourist accommodation and catering |
694,8 |
2,7 |
102,0 |
|
Net taxes on products |
1790,7 |
7,1 |
103,0 |
|
deflator |
121,4 |
||
The transport sector was the most dynamic sector in Azerbaijan in January-May 2017.
According to the State Statistics Committee, as of January-May 2017, value added worth 1,852.9 million manat was observed in the sector or by 5.3 percent more than in January-May 2016.
The transport sector is ahead of the communication sector in terms of economic importance during the reporting period, which increased by 4.9 percent in January-May 2017 compared to January-May 2016. GDP reached 447.7 million manat in that sector.
The Azerbaijani non-oil industry increased by 3.9 percent in January-May 2017, while the oil industry dropped by 7.1 percent compared to the same period of 2016.
The total industrial production (a volume of production and rendered industrial services) in Azerbaijan in January-May 2017 amounted to 15.7 billion manat, which is by 5.5 percent less than in the same period of 2016.
The volume of production in the mining industry reached 11 billion manat with a 70.2 percent share of the entire industrial production in January-May 2017, which is by 6.7 percent less than in January-May 2016.
During the reporting period, Azerbaijan produced 15.9 million tons of oil and 11.7 billion cubic meters of natural gas.
Oil production decreased by 9.2 percent in Azerbaijan, while gas production by 5.9 percent in January-May 2017 compared to the same period of 2016.
Some 1891,9 kilograms of precious metals were produced in January-May 2017 (including 1410,1 kilograms in May), which is by twofold more than a year earlier.
In particular, 1741,6 kilograms of gold (+1369,3 kg in May) and 109.7 kilograms of silver (+40,6 kg) were produced.
Gold production increased by 2.2 times, while silver production decreased by 7.4 percent in Azerbaijan in January-May 2017.
The production volume in the processing industry amounted to 3.8 billion manat (24.4 percent of total industrial output) in January-May 2017 or by 0.1 percent less than in January-May 2016.
In this sector, the biggest growth was observed in weaving industry – by 2.2 times, the production of electrical appliances – by 2.1 times, food products – by twofold, pharmaceuticals – by 2.3 times, production of wood products and wood processing (except for furniture) – by 87.5 percent, production of computers, electronics and optical products – by 72.1 percent.
Production, distribution and supply of electricity, gas and steam increased by 1.8 percent in January-May 2017 compared to January-May 2016, but water supply, treatment and recycling of waste decreased by 1.1 percent.
As of June 1, 2017, there were finished goods worth 560.8 million manat in the warehouses of industrial enterprises, taking into account the reserves accumulated in previous years.
Some 70.5 percent of reserves account for Baku, 6.8 percent - Sumgait, 4 percent - Ganja, 2.8 percent - Shirvan, 0.1 percent - Mingachevir, and the rest - warehouses of industrial enterprises in other cities and regions.
Azerbaijan’s metallurgical industry and enterprises producing finished goods from metal produced goods worth 208.5 million manat in January-May 2017.
The report says that the output volume of metallurgical industry decreased by 6.5 percent and the production of finished goods - by 34.2 percent in January-May 2017.
The agricultural production volume in actual prices amounted to 1.53 billion manat in Azerbaijan in January-May 2017 increasing by 2 percent compared to January-May 2016.
According to the Azerbaijani State Statistics Committee’s report, the crop production increased by 0.1 percent and reached 167.2 million manat, livestock production – 2.3 percent and reached 1,365.4 million manat in the reporting period.
According to the State Statistics Committee, as of January-May 2017, 16.4 billion manat accounted for the Azerbaijani consumer market, which is by 1.5 percent more than its turnover for January-May 2016.
The monthly consumer expenses are estimated at 338.2 manat per capita in January-May 2017 or by 42.9 manat more compared to January-May 2016.
According to the State Statistics Committee, the prices on consumer goods and tariffs for services increased by 0.2 percent in May 2017 compared to April 2017.
The food prices decreased by 1.3 percent, non-food items increased by 0.2 percent, paid services – by 2.1 percent in Azerbaijan during the reporting period.
The foreign trade turnover with 155 countries amounted to $7.26 billion in January-May 2017, or by 13.18 percent more than in the same period of 2016.
The volume of exports increased by 44.05 percent and amounted to $4.45 billion in January-May 2017 compared to January-May 2016. The volume of import decreased by 15.44 percent and reached $2.81 billion.
The black ink was estimated at $1.63 billion in January-May 2017, while red ink worth $281.5 million was observed in January-May 2016.
According to the Azerbaijani State Statistics Committee, 5.67 billion manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-May 2017, which is by 3.2 percent less than in January-May 2016.
Some 1,138.3 billion manat was invested in the Azerbaijani economy in May 2017, which is by 3.7 percent more than investments in fixed assets in May 2016.
According to the report, 82.9 percent of investments in fixed assets were made in the construction of production facilities, 11.9 percent - non-production facilities, 5.2 percent - housing construction.
According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 18.6 billion manat in January-May 2017, which is by 7.3 percent more compared to January-May 2016.
The amount of income per capita for the reporting period was 1917.5 manat with a 6.2 percent-increase.
In January-May 2017, the average rate of manat to the U.S. dollar was 1.70 manat versus dollar, to euro – 1.88 manat versus euro, to Russian rouble – 2.98 manat versus 100 rouble.