In January-April 2015, Azerbaijan produced gross domestic product amounting to 16 billion 639 million manat, the State Statistics Committee told Turan. At current prices, compared to the same period of 2014 GDP fell by 1 billion 567 million manat or 8.4%.
According to estimates of SSC, according to the methodology for calculating GDP, value added in manufacturing and services as compared with January-March 2014 increased by 5.5% due to an increase in their volume.
Production of GDP in non-oil sector grew by 6.8%, oil and gas sector - 4%.
As a result of reducing the value added, share of oil sector in GDP has fallen from 45% (in January-April 2014) to 33.6% (5.6 bn. manat).
It is noteworthy that the factor of changing the proportion of oil and non-oil sectors in the GDP is presented by the government as a result of their own efforts to diversify the economy.
Once again, the fact of output per capita GDP since the beginning of this year has been concealed from the society. According to the SSC, the first four months of this year, GDP per capita in Azerbaijan amounted to 1,942.6 manat or $ 2,476.5. According to estimates of Turan, the first four months of this year this figure fell to 1,730 manat, or $ 1,650. --08D-
Economics
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In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
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In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
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Azerbaijan’s industrial sector showed resilience in 2024, with total production in January-November reaching 58.3 billion manat, a 1.1% increase compared to the same period in 2023, according to the State Statistics Committee. While growth was driven by robust gains in the non-oil and gas sectors, the report underscores a gradual but notable shift in the country’s economic priorities and production dynamics.
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According to the State Statistics Committee (SSC) of Azerbaijan, the country's Gross Domestic Product (GDP) from January to November 2024 reached 113.3 million manats. In the same period of 2023, GDP was recorded at 110.2 million manats. Thus, GDP increased by 2.81% compared to the corresponding period in 2023.
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