Azeri non-oil economy growing faster than energy sector
BAKU – The growth rate in Azerbaijan’s non-oil sector exceeds oil sector growth, according to the State Statistics Committee chairman.
Arif Valiyev said the country’s non-oil economy grew by 5.2 percent and the oil sector by 2.7 percent in January-September, compared to the same period of last year.
Valiyev told a press conference that the non-oil sector might have seen even more growth if floods and inclement weather had not occurred, causing a 3.4 pct reduction in Azerbaijan’s agriculture sector.
According to the committee chairman, Azerbaijan’s gross domestic product increased 4.1 pct to reach 29.3 billion manats (over $36.6 billion) in January-September. Per capita GDP rose 2.9 pct to 3,286 manats ($4,107).
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