Azerbaijan’s GDP volume reached 31.31 billion manats in January-June 2017, according to a report of the country’s State Statistics Committee. GDP volume per capita reached 3,220 manats.
Meanwhile, the volume of Azerbaijan’s non-oil GDP rose by 1.7 percent in January-June 2017 as compared to the same period of 2016.
The volume of Azerbaijan’s GDP in the oil and gas sector decreased by 6.6 percent in January-June 2017.
Thus, 42.14 percent (13.2 billion manats) of Azerbaijan’s GDP accounted for industrial sphere, 8.1 percent (2.5 billion manats) – for construction, 4.98 percent (1.56 billion manats) – for agriculture, forestry and fishery.
Net taxes on production and import accounted for nearly 7.2 percent of Azerbaijan’s GDP.
According to the report, 10.9 percent of the GDP (3.4 billion manats), produced in the service sector, accounted for trade and maintenance of vehicles, nearly 7.2 percent (2.25 billion manats) – for transport and warehousing, 2.7 percent (846.6 million manats) – for accommodation of tourists and catering, 1.75 percent (548.4 million manats) – for information and communication services, 15 percent (4.71 billion manats) – for other services.
|
Value added in mln manats |
Special weight, % |
Growth compared to reporting period of 2016, % |
|
|
GDP in total |
31,310.6 |
100.0 |
98.7 |
|
industry |
13,195.2 |
42.1 |
94.2 |
|
agriculture |
1,559.9 |
5.0 |
102.2 |
|
construction |
2,536.8 |
8.1 |
96.4 |
|
transport |
2,249.6 |
7.2 |
106.7 |
|
communications |
548.4 |
1.8 |
103.7 |
|
trade and repair |
3,414.6 |
11.0 |
101.8 |
|
tourist accommodation and catering |
846.6 |
2.7 |
102.1 |
|
Net taxes on products |
2,247.8 |
7.2 |
102.1 |
|
deflator |
119.1 |
||
The transport sector was the most dynamic sector in Azerbaijan in January-June 2017.
According to the State Statistics Committee, as of January-June 2017, value added worth 2,249.6 million manats was observed in the sector or by 7.2 percent more than in January-June 2016.
The transport sector is ahead of the communication sector in terms of economic importance during the reporting period, which increased by 3.7 percent in January-June 2017 compared to January-June 2016. GDP reached 548.4 million manats in that sector.
The Azerbaijani non-oil industry increased by 4.4 percent in January-June 2017, while the oil industry dropped by 7.2 percent compared to the same period of 2016.
The total industrial production (a volume of production and rendered industrial services) in Azerbaijan in January-June 2017 amounted to 18.6 billion manats, which is by 5.5 percent less than in the same period of 2016. The share of private sector in the industrial sphere was 79.7 percent.
The volume of production in the mining industry reached 13 billion manats with a 70.1 percent share of the entire industrial production in January-June 2017, which is by 6.6 percent less than in January-June 2016.
During the reporting period, Azerbaijan produced 19.1 million tons of oil and 9.3 billion cubic meters of natural gas.
Oil production decreased by 9 percent in Azerbaijan, while gas production by 0.2 percent in January-June 2017 compared to the same period of 2016.
The production volume in the processing industry amounted to 4.6 billion manats (24.6 percent of total industrial output) in January-June 2017 or by 2 percent less than in January-June 2016.
In this sector, the biggest growth was observed in weaving industry – by 2.1 times, clothing production – by 57.1 percent, the production of electrical appliances – by 84.2 percent, pharmaceuticals – by 2.3 times, production of wood products and wood processing (except for furniture) – by 82.8 percent, production of computers, electronics and optical products – by 75.7 percent.
Production, distribution and supply of electricity, gas and steam increased by 0.9 percent in January-June 2017 compared to January-June 2016, this is while water supply, treatment and recycling of waste decreased by 1.5 percent.
Azerbaijan’s metallurgical industry and enterprises producing finished goods from metal produced goods worth 248.9 million manats in January-June 2017.
The report says that the output volume of metallurgical industry decreased by 9.5 percent and the production of finished goods - by 30.3 percent in January-June 2017.
In January-June of 2017, 110,300 tons of armature were produced in Azerbaijan, which is eight percent less than in the same period of 2016. Some 27,300 tons of steel pipes were produced, which is 12.8 percent less than during the six months of last year.
The volume of production of steel casting in Azerbaijan in the first half of 2017 amounted to 162,000 tons, which equals to the volume produced in the same period of 2016. The agricultural production volume in actual prices amounted to 2.83 billion manats in Azerbaijan in January-June 2017 increasing by 2.2 percent compared to January-June 2016.
According to the Azerbaijani State Statistics Committee’s report, the crop production increased by 1.7 percent and livestock production – by 2.6 percent in the reporting period.
According to the State Statistics Committee, as of January-June 2017, 20.5 billion manats accounted for the Azerbaijani consumer market, which is by 1.5 percent more than its turnover for January-June 2016.
The monthly consumer expenses are estimated at 352 manats per capita in January-June 2017 or by 44.7 manats more compared to January-June 2016. According to the State Statistics Committee, the prices on consumer goods and tariffs for services decreased by 1 percent in June 2017 compared to May 2017. The food prices decreased by 2.5 percent, while the prices for non-food items and paid services increased by 0.1 percent in Azerbaijan during the reporting period.
The prices on consumer goods and tariffs for services increased by 13.9 percent in January-June 2017 compared to January-June 2016. The food prices increased by 18.1 percent, the prices for non-food items – by 12.4 percent, and paid services - by 9.4 percent in Azerbaijan during the reporting period.
The foreign trade turnover with 171 countries amounted to $8.68 billion in January-June 2017, or by 9.8 percent more than in the same period of 2016. The volume of exports increased by 36.5 percent and amounted to $5.27 billion in January-June 2017 compared to January-June 2016. The volume of import decreased by 15.7 percent and reached $3.41 billion. At the same time, Azerbaijan exported 2,350 goods during the reporting period, and imported 6,776 goods.
The black ink was estimated at $1.86 billion in January-June 2017, while red ink worth $184.55 million was observed in January-June 2016. According to the Azerbaijani State Statistics Committee, 7.14 billion manats was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January-June 2017, which is by 2.9 percent less than in January-June 2016. Some 1,466.9 billion manats was invested in the Azerbaijani economy in June 2017, which is by 6.2 percent more than investments in fixed assets in June 2016.
According to the report, 78.6 percent of investments in fixed assets were made in the construction of production facilities, 16 percent - non-production facilities, 5.4 percent - housing construction.
According to the Azerbaijani State Statistics Committee, the nominal income of the population totaled 23.5 billion manats in January-June 2017, which is by 7.3 percent more compared to January-June 2016.
The amount of income per capita for the reporting period was 2,422.9 manats with a 6.2 percent-increase.
In January-June 2017, the average rate of manat to the US dollar was 1.70 manats versus dollar, to euro – 1.91 manats versus euro, to Russian rouble – 2.94 manats versus 100 rouble.