Azerbaijan non-oil GDP reaches 52.65% in economy

Azerbaijan non-oil GDP reaches 52.65% in economy
# 29 April 2009 14:33 (UTC +04:00)
Baku. Vugar Israfilov – APA-Economics. Azerbaijan’s non-oil GDP, the output of goods and services produced in the non-oil economy, reached AZN 3 549.3 million in January-March, up 13.7% from a year earlier, said the Statistics and Research Department of the National Bank of Azerbaijan.

The central bank said there is growth in non-oil economy despite a slowdown in the extractive industry.

According to the data, the volume of non-oil GDP grew by AZN 1 469.6 million in March, up 1.7 times in non-comparative terms on the same month last year

As a result, the share of non-oil GDP jumped to 52.65% from 38.82% in 2008-year-end for the first time in recent years.

As of April 1, non-oil GDP per capita stood at AZN 782 ($971.5).

Non-oil GDP per capita is the GDP (total income) from the oil sector of a country, divided by its population. It shows how much money people earn on average from the oil exports.

Because of Azerbaijan is an energy-rich country, GDP usually most come from the oil sector.
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