Azernews.Az

By Aynur Jafarova

Around 2.5 billion manats were invested in Azerbaijan's oil sector in January-May 2014.

This figure is 33.1 percent more compared to the same period of last year, Azerbaijan's State Statistics Committee said.

In 2013, around 4.8 billion manats were invested in the country's oil sector, which is 24.2 percent more compared to 2012.

In January-May 2014, the total volume of investment in Azerbaijan's industry sector amounted to 2.98 billion manats, which is 8.1 percent more compared to the same period of 2013.

Some 2.45 billion manats of these funds were invested in the mining industry, which is 31.9 percent more than in January-May 2013.

The total volume of investment in the country's industry sector in 2013 amounted to 7.08 billion manats, which is 16.4 percent more compared to 2012.

The State Statistics Committee also said the total volume of the Azerbaijani GDP amounted to 23.4 billion manats in January-May 2014, which exceeds the figure for the same period last year by 2.8 percent.

Nominal GDP growth made up 4.8 percent.

Some 61.2 percent of GDP in Azerbaijan was formed in the fields of production during this period, which showed an increase of 0.9 percent.

The value added share generated in industry makes up 47 percent, and construction-11.5 percent. Some 31.7 percent of gross output was generated in the service sector.

Net taxes on products and imports amounted to over 1.656 billion manats or 7.1 percent of the Azerbaijani GDP.

Some 14.2 percent of GDP originating in the services sector accounted for social and private services, 8 percent - trade and services, 5.6 - transportation and warehousing, 2.7 percent - agriculture, forestry and fish farms.

The non-oil sector grew by 8.3 percent compared to the same period last year, and its share in GDP was 55.4 percent. The volume of value added production in the extraction and processing of oil and gas decreased by 2.8 percent.

The volume of value added in the Azerbaijan's construction sector increased by 17.3 percent in January-May 2014, tourist accommodation and catering - 15.2 percent, information and communication services - 12 percent, trade and repair of vehicles - 8.8 percent, transport and warehousing - 6 percent, social and other services - 3.3 percent, agriculture, forestry and fish farming- 2.7 percent compared to the same period last year.