Total volume of Azerbaijan's GDP in 2013 will reach $71 billion

The total volume of Azerbaijan's GDP in 2013 will reach $71 billion or eight times more compared to 2003, chairman of the committee on economic policy of the Azerbaijani parliament Ziyad Samadzade said today while discussing the bill on the state budget for 2013 and the next three years.

"The GDP growth rates in 2013 are projected at 5.3 percent," he said. "This will be mainly caused by the growth of non-oil sector. GDP is projected at $71 billion or $ 29 billion more compared to 2009. Around 55 percent of this growth will be ensured due to the non-oil sector."

He said that the highest rate of declining the GDP growth in the CIS was observed in Azerbaijan in 1990-2000. But the average annual GDP growth in the country was 18.1 percent in 2000-2008. This was the highest index in the CIS and one of the best in the world.

"Azerbaijan ranked twelfth in the CIS in terms of GDP per capita in 1999," he said. "In 2011, the country rose to the sixth position. In 2011, the figure exceeded the similar rate in Georgia by 2.1 times, in Armenia - by 2.3 times."

He said that the production volume, accounting for 1 percent of GDP growth, as well as GDP, are increasing.

"In 2003, an increase by one percent meant GDP growth by 71 million manat," he said. "In 2013, an increase was made by 560 million manat, of which 344 million manat fell to the growth in the oil sector."


/Trend/