In the first ten months of this year, the gross domestic product in Azerbaijan amounted to 44.2 billion manat, in comparable prices by 1% more than in the same period of 2011.
According to the committee, the volume of non-oil GDP grew by 10.4%. Thus, the share of non-oil sector in the formation of value added was 50.8%.
The GDP per capita was 4,823.7 manat or $ 6,138.6.
The share of industry in GDP was 50.9%, construction - 9.9%, agriculture - 5.9%, and net taxes on production and imports - 6.3%, etc. The production of value added in construction grew in real terms compared with the same period in 2011 by 27.3%, the scope of information and communication - 17.2%, and hotel and catering services - 16.2%.
The Azerbaijani government expects GDP for 2012 at 51,157 mln (+0.1%). In 2013, the government forecasts that GDP will grow by 2%. - 08D-
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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