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Azerbaijanâ€™s non-oil GDP growth hits a record high

Azerbaijanâ€™s non-oil GDP growth hits a record high

10 February 2009 13:07 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. At a time while oil prices are plummeting on the world markets, the non-oil GDP growth rate hit a historical high in Azerbaijan, said the National Bank of Azerbaijan.
The central bank said the non-oil GDP grew by 15.7%, year-on-year, in 2008 to AZN 14 750.7 million for the first time, highlighting a 3.32 times boost over the past five years.
Ultimately, the share of non-oil sector in the economy rose to 38.81% in 2008 from 35.22% in 2007.

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