In the first 11 months of this year, gross domestic product per capita in Azerbaijan amounted to 5,255.5 manat, the State Statistics Committee. It is 455.2 manat, or 8% less than in the comparable period of 2014.
In US dollars the GDP in Azerbaijan reduced by 25.3%. In January-November 2014 the GDP per capita in the country was $ 7281, while this year the figure is estimated at Turan fell to $ 5438.
According to the SSC, the volume of GDP in Azerbaijan in January-November amounted to 50 billion 57.5 million manats, 3.1% more than in the same period last year. At the same time, according to the same source, for the comparable period of 2014 the volume of industrial value added in the country amounted to 53 billion 743.6 million manats. GDP grew in real terms. In value terms, the economy contracted by 6.9%.
According to official estimates, non-oil GDP in the 11 months amounted to 34 billion 676.8 million manats, up 4% in stable prices.
The share of industry in GDP structure was 33.7% (11 months of 2014 - 42.6%), construction - 13.7% (12.6%), trade and repair of motor vehicles - 9.9% (10 %), agriculture - 5.9% (5.1%), etc. –0--
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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