Azerbaijan Economy Shows Growth With Strong Non-Oil Performance
This was reflected in report published by the State Statistics Committee.
According to the report, Azerbaijan produced gross domestic product (GDP) worth 87.7 billion manat ($51.6 billion) in the mentioned period, which is 1.2% higher than in the same period last year. Over the past year, the value of the country's oil and gas GDP decreased by 0.8% to 26.2 billion manat ($15.4 billion). Meanwhile, non-oil and gas GDP rose by 2.1% to 61.5 billion manat ($36.2 billion).
During the reporting period, the total value of industrial output in Azerbaijan fell by 0.4% year-on-year to 44.6 billion manat ($26.2 billion), while non-oil and gas industrial output increased by 5.4% to 14.6 billion manat ($8.6 billion). The total value of agricultural production grew by 2.6% to 10.1 billion manat ($5.9 billion), transport and warehousing services rose by 8.7% to 10.9 billion manat ($6.4 billion), and information and communication services increased by 10.7% to 2.7 billion manat ($1.6 billion).
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