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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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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