Azerbaijan's economy increases by five per cent over a year

Azerbaijan, Baku, Aug. 14 / Trend A.Akhundov / Azerbaijan's overall GDP in January-July 2013 amounted to 32.3 billion manat, which exceeds the figure for the same period last year by five per cent, the State Statistics Committee reported. The volume of GDP per capita grew by 3.7 per cent to 3484.7 manat ($4441.3). During the reporting period, 63.8 per cent of Azerbaijan's GDP was formed in the areas of production, of which 47.7 per cent was in industry, 10.8 per cent in construction, 5.3 per cent in agriculture and forestry and fish-breeding farms. At least 29.7 per cent of the gross output accounted for the service sector. Net taxes on products and imports accounted for 6.5 per cent of the country's GDP. With 25.2 per cent of the GDP originating in the services sector being accounted for, 18.8 per cent was in transport and warehousing, 7.2 per cent tourist accommodation and catering, 5.8 per cent in information and communication services and 43 per cent in social and other services. According to the report, the non-oil sector of the economy has increased by 10.5 per cent compared to the same period last year, with the share of the GDP at 54.8 per cent. The volume of production of value added in the extraction and processing of oil and gas has increased over the same period last year by 0.6 per cent. Compared to the same period last year, the production of value added in the construction sector in January-July 2013 increased by 33.8 per cent, tourist accommodation and catering was 20 per cent, trade and repair of vehicles - 9.2 per cent, information and communication services at 6.9 per cent, agriculture, forestry and fish-breeding farms was 4.8 per cent, transport and warehousing stood at 4.2 per cent and social and other services were three per cent. The official exchange rate on August 14 is 0.7845 AZN / USD. Do you have any feedback? Contact our journalist at agency@trend.az