Azerbaijan's GDP slightly increases in January-February

By Azernews

Qabil Ashirov

The GDP of Azerbaijan in January-February 2023 increased by 0.4 percent amounting to AZN19.8bn ($11.7bn), Azernews reports citing State Statistical Committee.

According to the Committee, value added produced in the oil-gas sector decreased by 3.6 percent, while in the non-oil-and-gas sector, it increased by 4.6 percent.

A total of 50.3 percent of GDP was produced in industry, 8.9 percent in trade, 5.3 percent in transport and warehouse, 3.8 percent in construction, 2.5 percent in agriculture, forestry and fishing, 1.5 percent in information and communication, 1.8 percent in tourists' accommodation and public catering, 16.9 percent other fields, 8,1 percent net taxes on product and import.

GDP per capita had been equal to AZN1,955.6 ($1,150.35).

As for industrial output in January - February 2023, the Committee noted that industrial products totaled AZN12.7bn ($7.5bn), which is less by 2.8 percent compared with the same period of 2022.

The product output in the oil-gas sector decreased by 3.7 percent, while in the non-oil-and-gas sector, it increased by 6.8 percent.

Some 73.2 percent of industrial products were produced in the mining sector,21.5 percent in the manufacturing sector, 4.8 percent in production, distribution and supply of electricity, gas and steam, and 0.5 percent in the sector of water supply, waste management and remediation activities.

Marketable oil production in the mining sector decreased by 6.4 percent, while marketable gas production increased by 0.9 percent.