Azerbaijani economy grew slightly in 2017
By Trend
Azerbaijan’s GDP volume exceeded 70.1 billion manats in 2017 that is 0.1 percent more than in 2016, according to a report of the State Statistics Committee.
The volume of GDP per capita stood at 7,200 manats.
In 2017, the volume of GDP produced in the non-oil sector of the country increased by 2.6 percent, while a decline by five percent was observed in the oil and gas sector as compared to 2016.
Thus, 40.1 percent (almost 28.09 billion manats) of Azerbaijan’s GDP accounted for industrial sphere, 9.5 percent (6.7 billion manats) – for construction, 5.6 percent (almost 3.95 billion manats) – for agriculture, forestry and fishery.
Net taxes on production and import accounted for almost 7.3 percent of Azerbaijan’s GDP.
According to the report, 10.4 percent of the GDP (7.3 billion manats), produced in the service sector, accounted for trade and maintenance of vehicles, 6.8 percent (4.7 billion manats) – for transport and warehousing, 2.3 percent (1.6 million manats) – for accommodation of tourists and catering, 1.6 percent (1.14 million manats) – for information and communication services, 16.35 percent (11.47 billion manats) – for other services.
(1.7001 manats = $1 on Jan. 17)
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