. In the first half of 2016 the volume of gross domestic product in Azerbaijan amounted to 27 billion AZN, which is 3.4% less in comparable prices than in the same period of 2015, the State Statistics Committee.
The share of non-oil sector in GDP structure was 65.1%. The production of GDP in the non-oil sector, due to the backlog of investments in the construction sector, reduced freight transport and electricity generation, decreased 6.1%.
In the oil sector (9.4 billion AZN) GDP increased by 2.1%.
GDP per capita for the six months amounted to 2,809.9 AZN, which is 4.5% less than in the same period last year. ----- 08D
Economics
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Azerbaijani President Ilham Aliyev has signed a decree introducing amendments to the "Armed Forces of the Republic of Azerbaijan" law. The decree, issued on December 24, 2024, follows the implementation of changes under the law of November 7, 2024, and aims to ensure their practical application.
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Silk Way Alat Free Economic Zone (SW AFEZCO) has entered a transformative stage in its development, signing a pivotal agreement with FF Construction for the design and construction of the Silk Way Cargo Village in the Alat Free Economic Zone (AFEZ). This ambitious project includes the planning, engineering, and building of three cornerstone facilities that will underpin the Cargo Village: an air traffic control center, a business aviation terminal, and a fire station.
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BAKU, Dec 24 (Reuters) - Azerbaijan’s President Ilham Aliyev has issued a decree to boost the cargo handling capacity of the Baku International Sea Trade Port, allocating 20 million manats ($11.8 million) from the presidential reserve fund for the port's expansion project.
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A meeting was held between the State Service for Antimonopoly Control and Consumer Market Supervision and entrepreneurs in the fuel sector, highlighting both current challenges and promising steps toward progress. Discussions, organized under the Ministry of Economy, focused on fuel quality issues, consumer rights protection, and compliance with established standards in a country where vehicle fuel has long been a contentious issue.
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