The Gross Domestic Product of Azerbaijan for 10 months of this year amounted to 47.6 billion manat, which is 5.7 % more than in the same period of 2012 . Growth was driven mainly by the services sector. In September, the index growth rate was 5.4%.
The State Statistics Committee told Turan, that the non-oil sector growth was recorded at 9.8 %, while in the oil - 1%.
In January - October 2013, the share of industry in GDP was 46.3 %. The share of the construction sector in GDP by investing primarily in public investment in the economy, reached 12.1%. In this case, the value added in the construction for the period increased by 25.2 %. The share of tourist accommodation and catering was 2.1% of GDP. In this case, the real growth in this sector for 10 months was 17.9 %.
Cumulative production sector participation in the GDP was 64.1 %, services - 29.6 % and net of tax - 6.3%. - 08D-
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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