Azernews.Az

Industry's specific weight in Azerbaijan's GDP will decrease from 49.9 percent in 2012 to 31.7 per cent in 2017.

This outlook of Azerbaijani government was included into the draft Concept of socio-economic development for 2014 and the next three years.

According to the document, this figure stood at 44.6 percent in 2013, and it will amount to 41.8 percent in 2014, 35.7 per cent in 2015 and 32.9 percent in 2016.

The gross value added in the manufacturing sector will continue to decline in 2013, and in 2014 - by 0.4 and 0.3 per cent respectively (in 2011 this figure decreased by 8.4 per cent, and in 2012 by 3.8 per cent). The real growth of 2.6 per cent is expected for 2015, followed by a decline of two per cent in 2016, while in 2017 this figure will increase in real terms by 2.1 per cent.

GDP produced in the industry is expected to stand at 24.42 billion manats in 2013 (28.01 billion manats - in 2011, 26.96 billion manats - in 2012), 24.45 billion manats in 2014, 21.19 billion manats in 2015, 20.76 billion manats in 2016, 21.35 billion manats in 2017.

Decline in industrial production was also conditioned by reduction of the specific weight of the oil and gas industry in the country's GDP, namely from 49.6 per cent in 2011 and 45.4 per cent in 2012 to 39.6 per cent in 2013, 36.4 per cent - in 2014, 29.8 percent - in 2015, 26.8 per cent - in 2016, 25.3 per cent - in 2017.

At the same time, the specific weight of non-oil industry is expected to grow from 4.2 per cent in 2011 and 4.5 per cent in 2012 to five per cent in 2013, 5.4 per cent in 2014, 5.9 per cent in 2015, 6.2 per cent in 2016, 6.4 per cent in 2017.

Decrease in the share of industry in GDP will be offset by the increased share of the services sector. This figure will rise from 29.5 per cent in 2012 to 32.3 per cent in 2013, 33.4 per cent in 2014, 37.7 per cent in 2015, 39 per cent in 2016, and 39.3 percent in 2017.