The Gross Domestic Product in Azerbaijan for the first quarter of this year amounted to 12.9 billion manat. The country's economy, compared to the same period in 2012 increased by 3.1%, Turan was told today at the State Statistics Committee.
GDP increased by a recession in the oil sector at the level of 4%. In this case, according to SSC, in the non-oil sector of the economy there was recorded a growth rate of 11.4%. Industry accounts for 6.8 bn AZN or 52.3% of the GDP and the share of agriculture in the first quarter was 2.3% (about 0.3 billion manat).
Manufacturing value added per capita income for January-March 2013 amounted to 1399.6 manat or $ 1,783.4. - 08D-
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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