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Azerbaijan sees 0.7% decline in economy


In January-October 2017, the Gross Domestic Product (GDP) made up AZN 56,481,500,000, down 0.7% from previous year, said a statement from the State Statistical Committee.

 

The value added increased 2.1% in the non-oil sector, decreased 6% in oil and gas sector.

 

At the same time, 40.2% of the value added was formed in industry, 10.2% in trade and repair of transport facilities, 8.8% in transport and storehouse, 6.9% in construction, 5.8% in agriculture, forestry and fishery, 2.4% in tourist accommodation and catering, 1.7% in information and communication and 16.7% in other spheres.

 

Net taxes to product and import made up 7.3% of GDP. The per head GDP amounted to AZN 5,806.7.

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