Azerbaijani economy up
By Sara Israfilbayova
Azerbaijan’s GDP volume reached around 6.05 billion manats ($3.56 billion) in January 2018, which is 2 percent more than in January 2017.
The State Statistics Committee reported that the volume of GDP per capita stood at 618.5 manats ($363.8).
The volume of GDP produced in the non-oil sector of the country increased by 3.9 percent in January 2018, while a decline by 0.5 percent was observed in the oil and gas sector as compared to January 2017.
Thus, 48.4 percent (almost 2.93 billion manats-$1.72 billion) of Azerbaijan’s GDP accounted for industrial sphere, 6 percent (365.3 million manats-$214.87 million) – for construction, 2.7 percent (160.6 million manats-$94.46 million) – for agriculture, forestry and fishery.
The report says that 9.6 percent of the GDP (583.4 million manats-$343.16 million), produced in the service sector, accounted for trade and maintenance of vehicles, 6.5 percent (390.2 million manats-$229.51 million) – for transport and warehousing, 2.5 percent (152.6 million manats-$89.76 million) – for accommodation of tourists and catering, 1.5 percent (93.6 million manats-$55.05 million) – for information and communication services, 15.8 percent (952.9 million manats-$560.5 million) – for other services.
Azerbaijan’s GDP this year is expected to reach 69.4 billion manats ($40.82 billion). At the same time, 47.6 billion manats ($28 billion) of the GDP will account for the non-oil sector, which will grow 2.9 percent next year.
About 83 percent of Azerbaijan’s GDP will account for the private sector.
Incomes of Azerbaijan’s state budget for 2018 are projected at 20.127 billion manats ($11.84 billion) [including centralized incomes - 19.476 billion manats ($11.46 billion), local incomes - 650.671 million manats ($382.75 million)], expenditures are projected at 20.905 billion manats (12.3 billion) [including centralized expenses - 20.182 billion manats ($11.88 billion), local expenses - 724.092 million manats ($425.94 million)].
It is projected that Azerbaijan’s state budget for 2018 will be based on oil price of $45 per barrel.
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