Azerbaijan's economy shrinks by 3.2%

In January-February 2021, Azerbaijan’s Gross Domestic Product (GDP) amounted to AZN 12,019,000,000, which is 3.2% less than in the same period last year, Report informs with reference to the country’s State Statistical Committee.

The value-added in the non-oil sector fell by 7.5%, in the oil and gas sector - by 0.4%.

In the structure of GDP, 41.2% was industry, 10.7% - trade; repair of vehicles, 8.1% - transport and warehousing, 4.7% - construction, 3.1% - agriculture, forestry and fishing, 2.0% - information and communication, 0.7% - tourist accommodation and public catering, 19.9% - other sectors. Net taxes on products and imports amounted to 9.9% of GDP.

Per capita GDP dropped 4.9% to AZN 1,201.6.