In January and February 2015 Azerbaijan made Gross Domestic Product in the amount of 7.1 billion manat, the State Statistics Committee told Turan. At current prices, compared to the same period in 2014, GDP decreased by 1.4 billion manat or 16.5%.
According to estimates of SSC, according to the methodology of calculation of GDP, value added in manufacturing and services as compared with January 2014 increased by 4.2% due to an increase in their volume.
In the field of non-oil sector GDP growth was 5.1%. In this case, due to the reduction of petroleum product, the share of non-oil GDP reached 66.6%.
In January-February, the share of industry in value added was 50%, but this year this figure dropped to 36.3%. -----08D
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- Economics
- 13 March 2015 15:30
Economics
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Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
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BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
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The International Association of Drilling Contractors (IADC) opened its annual "IADC Drilling Caspian" conference in Baku on Tuesday, bringing together industry leaders to discuss advancements in oil and gas drilling, as well as the growing role of geothermal energy.
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