Economic recession in Azerbaijan reduced to 4.2%

Baku. 16 June. REPORT.AZ/ In January-May 2016, in Azerbaijan volume of GDP compared to same period last year declined by 4.2% and amounted to 21 512.8 million AZN.

Report informs referring to the report of the State Statistics Committee, GDP decline is mainly related with decline in production of goods and services in construction and transport sectors, respectively by 37.0% and 9.5%.

At the same time, volume of GDP produced in the field of information and communication on an annual basis increased by 11.1%, agriculture, forestry and fishery - 5.8%, tourist accommodation and catering - 3.4%, processing industry - 2.3%, trade, repair of vehicles - 1.9%, mining industry - 1.5%.

During the period, 39.8% of GDP produced in the industry, 12.2% - trade, repair of vehicles, 8.6% - construction, 6.6% - transport and warehousing, 3.5% - agriculture, forestry agriculture and fishing, 3.2% - tourist accommodation and catering, 2.0% - information and communication services, 16.4% - other spheres.

Net taxes on products and imports accounted for 7.7% of GDP. The volume of GDP per capita amounted to 2 239.4 manat (1440.2 US dollars).

In January-April, the pace of economic decline amounted to 4.5%.