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Azerbaijan’s non-oil economy grows

Trend | June 19, 2017
 The Islamic Chamber of Commerce , Industry and Agriculture (ICCIA)

Azerbaijan’s GDP volume reached 25.34 billion manats in January-May 2017 that is by 0.9 percent less than in the same period of 2016, according to a report of the country’s State Statistics Committee.

GDP volume per capita reached 2610,3 manats.

Meanwhile, the volume of Azerbaijan’s non-oil GDP rose by 2.3 percent in January-May 2017 as compared to the same period of 2016.

The volume of Azerbaijan’s GDP in the oil and gas sector decreased by 6.5 percent in January-May 2017.

Thus, 44.1 percent (11.185 billion manats) of Azerbaijan’s GDP accounted for industrial sphere, 8.3 percent (2.091 billion manats) – for construction, 3.3 percent (848.4 million manats) – for agriculture, forestry and fishery.

Net taxes on production and import accounted for 7.1 percent of Azerbaijan’s GDP.

According to the report, 10.9 percent of the GDP (2.751 billion manats), produced in the service sector, accounted for trade and maintenance of vehicles, 7.3 percent (1.853 billion manats) – for transport and warehousing, 2.7 percent (694.8 million manats) – for accommodation of tourists and catering, 1.8 percent (447.7 million manats) – for information and communication services, 14.5 percent (3.677 billion manats) – for other services.