Bank Of Baku

Economic growth in Azerbaijan makes 0.8% in January-April

Economic growth in Azerbaijan makes 0.8% in January-April
# 13 May 2011 13:02 (UTC +04:00)
State Statistical Committee says 64.7% of GDP were produced in food production, 29% - service area, 6.3% made by net taxes on product and import.

Production in non-oil sector rose 6.2%, decreased by 4% in oil-gas sector: “If production in oil-gas sector was 100%, GDP production might rise 3%”.

At the same time, per head value made AZN 1,522.5 or $1,916.3, up 4.3% from a year ago.

Note that, according to forecasts of Azerbaijani government, country’s economy is expected to rise 3.8% in 2011. IMF forecasts GDP growth rate in Azerbaijan as 2.8%, EBRD and ADB – as 3.5% in 2011.
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