In the seven months of this year the Gross Domestic Product of Azerbaijan reached AZN 30.783 million, an increase of 1.6% (476.5 million manat) more than in the comparable period in 2011.
According to the State Statistics Committee, the level of non-oil GDP (49.3%) is almost close to the oil GDP. Production of non-oil sector GDP for the period grew by 10.5% to 15.2 billion manat. The volume of GDP in the oil sector declined 6%.
In the SCS they told Turan the proportion of spheres of production in GDP is 67.4%, including industry - 52.3%, construction sector - 9.6%, and agriculture - 5.5%. The share of net taxes on production and imports amounted to 6.1%.
GDP per capita in Azerbaijan for seven months in 2012 amounted to AZN 3,364.7 or $ 4,280.9. The GDP per capita increased over the period by 1.7%. - 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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