In the first eight months of this year, GDP in Azerbaijan amounted to 39.2 billion manat, which is 2.4% more than in the comparable period of 2013, according to the State Committee of Statistics.
On the SCS estimate, in January-August 2014 the volume of GDP in the non-oil sector grew at an annual rate of 6.3%. Thus, the share of non-oil sector's contribution to the economy of the country has increased from 55.9% to 57.3%.
Industry accounts for 45% of GDP. The volume of non-oil industrial product increased during this period by 5.4%, while oil fell by 2.4%. --08D--
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Subsea7, a global leader in offshore engineering and construction, are exploring further collaboration on new projects in the Azerbaijani sector of the Caspian Sea. During a meeting between SOCAR President Rovshan Najaf and Subsea7 CEO John Evans, the two sides discussed the potential for Subsea7’s technological innovations to play a role in upcoming ventures. They also considered other areas of mutual interest for both companies.
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According to the State Customs Committee and the State Statistics Committee, Azerbaijan saw a significant increase in meat imports during the first nine months of 2024, amid more modest growth in domestic production.
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The event "Sustainable Transport of the Future" is being held in Baku on Wednesday, organized with the support of Azerbaijan Railways CJSC, aimed at promoting the concepts of sustainable transport that minimizes environmental impact. The event highlights environmentally friendly transportation options, such as walking, cycling, green public transport systems, and eco-friendly vehicles, all contributing to the reduction of greenhouse gas emissions.
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On October 23, 2024, the 3rd Conference of Energy Ministers within the framework of the "One Belt, One Road" (OBOR) initiative opened in Qingdao, China. Energy ministers from around the world gathered to discuss critical issues related to global energy security, the transition to clean energy, and innovations in the sector.
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