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Azerbaijan’s GDP increases

Azerbaijan’s GDP increases Investment

IIKSS - The volume of Azerbaijan’s GDP reached 5.23 billion manat (official exchange rate on Feb. 18 is 1.7352 AZN/USD) in January 2017 that is by 0.8 percent more than in the same period of 2016, according to the country’s State Statistics Committee.
The volume of GDP reached almost 3 billion manat in Azerbaijan’s non-oil sector and its share in the country’s GDP was 56.3 percent.
The volume of value-added production in the field of oil and gas production and refining was 43.7 percent of the GDP (2.3 billion manat).
During the reporting period, 47.7 percent (2.5 billion manat) of Azerbaijan’s GDP accounted for industry, 6.8 percent (356.7 million manat) – for construction, 2.7 percent (140.2 million manat) – for agriculture, forestry and fishery.
Net taxes on production and imports accounted for 6.1 percent of Azerbaijan’s GDP.
According to the report, 9.4 percent of the GDP (493.9 million manat) produced in the service sector accounted for the trade and repair of vehicles, 7.2 percent (378.4 million manat) – transport and warehousing, 2.5 percent (130.8 million manat) – tourist accommodation and catering sphere, 1.6 percent (84.6 million manat) – information and communication services, 15.9 percent (832.5 million manat) – other services.
The volume of value-added production in Azerbaijan’s industrial sphere increased by 0.8 percent, trade and repair of vehicles – by 1.3 percent, tourist accommodation and catering – by 0.3 percent, agriculture, forestry and fishery – by 3.5 percent in January 2017 compared to the same period of 2016.

Source: AzerNews

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