Azerbaijan's economy increases by 3.8 per cent

In January-April 2013, Azerbaijan's GDP grew by 3.8 per cent compared to the same period last year amounting to 17.23 billion manat, according to a report of the State Statistical Committee.

Nominal GDP growth was at 1.6 per cent. GDP per capita increased by 2.5 per cent reaching 1,861.9 manat ($2.372.8).

Production of added value in the non-oil sector grew by 10.9 per cent over the year amounting to 8.88 billion manat, or 51.5 per cent of the GDP and fell by 2.3 per cent in the oil and gas sector.

Production of added value in the services sector increased by 6.4 per cent to 5.249 billion manat compared to the same period in 2012.

Total production in all sectors of the economy grew by 2.2 per cent compared to January-April 2012 and totalled 10.823 billion manat or 62.8 per cent of GDP. Alongside, industrial production in the country decreased 2.1 per cent to 8.852 billion manat, or 51.3 per cent of the GDP.

In January-April, production of added value in the agriculture, fisheries and forestry was 426.8 million manat, or 2.5 per cent of the GDP, in the construction sector - 1.543 billion manat (nine per cent of GDP with a 38 per cent increase), in trade and in repair services of vehicles - 1.339 billion manat (8.3 per cent of GDP with a 9.4 per cent increase), in transport and warehousing - 1.068 billion manat (6.2 per cent of GDP with a 5.3 per cent growth), in communications and information - 301.2 million manat (1.8 per cent of GDP with a 8.9 per cent growth), in the field of accommodation of tourists and catering - 348.6 million manat (two per cent of GDP with a 21.3 per cent growth) and in social and other services - 2.191 billion manat (12.7 percent with a 2.8 per cent increase).

Net taxes on products and imports increased by 9.7 per cent amounting to $1.158 billion manat, or 6.7 per cent of GDP.

The official exchange rate on May 16 is 0.7846 AZN / USD.

Adapted from Today.az