GDP Fell by 3.2%

In the two months of this year  Azerbaijan’s Gross Domestic Product amounted to 7 billion 888.7 million manat, which is 3.2% less than in the comparable period of 2015. This is despite the fact that the national currency has depreciated over the period to against the US dollar in more than two times.

A source in the State Statistics Committee noted that the main reason for reducing the level of GDP was falling transport volumes and investments in the construction sector.

The rate of reduction of the GDP production in the non-oil sector (-5.5%) is even higher than the overall rate of production of GDP. The share of its production in the GDP structure was 66.7%. In the oil sector a slight increase (1.1%) was recorded.

Manufacturing GDP per capita was 882.3 manat (-4.3%). In dollar terms, the figure was only $ 521.4. -------08D

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