Over the seven months of this year the volume of production of gross domestic product in Azerbaijan amounted to 32.122.600 manat, by 3% less than in the comparable period of 2015 due to a decrease in output in the construction industry by 30.7%, the State Statistics Committee. The share of non-oil sector accounts for 64.8% of GDP. At the same time, GDP fell by 5.4% in the non-oil sector.
The volume of GDP per capita in production this year was 3340.6 manat, by 4.1% less than in the comparable period last year. GPP on production per capita in dollar terms amounted to $ 2155.2. This is by two times more than in January-July, 2014. In February 2015, the government went to the devaluation of the national currency. In December was a second wave of devaluation. As a result, manat has depreciated compared to the US $ by two times. 08D
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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