Azeri GDP up 0.5 pct in nine months: govt
Azerbaijan’s gross domestic product increased 0.5 percent in January-September 2011 in comparison with the same period of 2010 to reach 34.5 billion manats ($44.3 billion), the state statistics body has said.
Per capita GDP was 3,827 manats ($4,840) in this period.
The oil sector accounted for 50.4 percent of the GDP, while the non-oil economy – 49.6 percent. Non-oil sector grew 8.2 pct, while oil sector decreased 7 pct in the first nine months of 2011.
The World Bank predicts Azerbaijan’s economic growth at 4.2 pct in 2011 and 4.1 pct in 2012, while the European Bank for Reconstruction and Development (EBRD) – at 3 pct both in 2011 and 2012, and the International Monetary Fund (IMF) – at 2.8 pct and 2.5 pct respectively. Asian Development Bank (ADB) predicts that the Azerbaijani economy will grow 5.8 pct this year and next year.
The Azerbaijani government says the country’s GDP is expected to increase 0.9 pct in 2011 and 5.7 pct in 2012.
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