Azerbaijan's GDP for the first 9 months of the year amounted to 39.8 billion manat (+1.1% compared to the same period last year). According to official statistics, the GDP per capita is AZN 4,340.2 ($ 5,522.6).
More than two thirds (67.2%) of the gross domestic product accounts for the production, including 51.3% of this amount in industry, 26.6% - in services, 9.8% - in construction, and 6.1% - in agriculture, forestry and fisheries.
The added value of non-oil sector in comparison to the same period last year increased 10.3%, ensuring the growth of its share in the GDP to 50.3%. In building the real expression of value added was 27.3%, in communication services and information technology - 16.7%, in tourism and catering - 16.3%, in trade and repair of transport - 9%, in agriculture, forestry and fisheries - 6.3%, in transport and barn farming - 2.1%. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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