Finance

Finance

Azerbaijanâ€™s economy rises 5% year-on-year

14 August 2013 07:41 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. In January-July, 2013, Gross Domestic Product in Azerbaijan increased by 5% to AZN 32.3 bn.

State Statistical Committee says 63.8% of value added was formed in production spheres, 10.8% - in construction complexes, 5.3% - agrarian sector, 29.7% - in service sector. Net taxes on product and import made 6.5% of GDP.

During the reporting period, added value in non-oil sector grew by 10.5% compared to previous year. Its share in GDP made 54.8%. Oil-gas extraction and processing areas produced -0.6% added value.

In the first 7 months of 2013, added value in construction rose 33.8%, accommodation of tourists and public catering services – 20%, repair of trade and transport vehicles – 9.2%, information and communication services – 6.9%, agriculture, forestry and fishery – 4.8%, transport and storage – 4.2%, social and other services – 3%.

This year, GDP is expected at AZN 51.379 bn, economic growth – 2.2%