Azerbaijan’s GDP grew 34.5% to AZN 17.7358bln

Azerbaijan’s GDP grew 34.5% to AZN 17.7358bln
# 31 January 2007 13:22 (UTC +04:00)
Gross domestic product – the output of goods and services produced by labor and property in Azerbaijan- grew 34.5% or AZN 4.3bln, year on year, during 2006, to AZN 17.7358 billion, the State Statistical Committee told APA.
The residents produced products and services worth AZN 27.8bln, up 6.7bn from the previous year. The cost of materials and services used for GDP generation constitute AZN 10.2bln, or 36.2% of the products.
The share of production in the GDP rose to 72.9% from 68.6%, the share of services dipped to 20.6% from 23.9%. Industry has 80-share in the value added produced, making up 58.3% of the GDP.
The Gross Domestic Product formed 7.5% from construction, 7.1% from agriculture, hunting and forestry, 5.3% from transportation, 1.8% from communications, 5.6% from retail and wholesale selling and repair of cars and household things, 7.9% from social and other services.
Net tax on imports and products made up 6.5%.
Growing oil output and notable progress in industry intensified the GDP production. The value added grew 56.4% in industry, 48.3% in transportation, 24% in mail and communications services, 13.5% in trade and services, 8.5% in construction. The non-state sector’s share reached 81%. /APA/
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