GDP Increased, Industry Declined in Azerbaijan

GDP Increased, Industry Declined in Azerbaijan

Gross Domestic Product (GDP) increased by 2.4 % in the first 8 months of 2014, compared to the same period of 2013 and reached to 39.2 billion manat ($ 50.3 billion US)- as State Statistic Committee of Azerbaijan reports. 45.0% of GDP were produced in the fields of industry, 11.8% in construction complex and 9.9% in the fields of trade and paid service, 4.9% in transport, 1.7% in information and communication enterprises, 5.1% in agrarian sector and 21.6% in other sectors. GDP per capita for this period on per capita was 4170.3 manat (5317.3 USD) and it was increased by 1.1% compared to the corresponding period of last year.

57.3% of value added produced in non-oil sector and it was increased by 6.3% compared to January-August of previous year, and decreased by 2.6% in oil-gas sector. 6.3% growth was observed in non-energy sector of economy.

During eight month of 2014 in amount of 22.6 milliard manat ($ 28.97 billion US) or less than 1.2% compared to the corresponding period of previous year industrial products were produced by industrial enterprises and natural entities engaged in this field. 16.3 milliard manat ($ 20.89 billion US) or 72.1% of the product was produced in mining sector; 28.6 million tons oil and it was produced 12.3 milliard cubic metre marketable gas.
Production output in the sector of non-oil sector of industry increased by 5.4%, and it was decreased by 2.4% in oil-gas sector.

© CESD, 2014

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