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    Azerbaijani economy shrinks by 1.2% in four months

    Industrial recession is the main reason of GDP's decline

    Baku. 17 May. REPORT.AZ/ Gross domestic product of Azerbaijan in January-April of this year was AZN 20,139.8 mln.

    Report informs referring to State Statistics Committee (SSC), this is 1.2% lower in comparison with the same period in 2016.

    Reduction of oil production and processing sectors of the industry is considered a main factor behind shrinkage of gross domestic product.

    At the same time, additional value produced in non-oil sector of the economy rose by 1.9% in annual comparison.

    The industrial sector provided 44.6%, trade, repair of automotive vehicles – 11%, construction - 8.2%, transportation and storage – 7.3%, agriculture, forestry and fishery – 3%, tourist accommodation and catering – 2.9%, information and communication – 1.7% of the GDP. Net taxes applied on products, 14% of which produced in other fields, and import made 7.3% of overall GDP.

    GDP per capita made AZN 2,075.5. 

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