Pace of GDP growth in Azerbaijan declines

The rate of deflator constituted 10.3% against 1.6% in January 2004. The figure is expected to aggregate at 4% through the year.

For the current year, the Government forecasts GDP to constitute 47.8 trillion AZM (roughly 9.75 billion U.S. dollars), with the growth rate reaching 14.1%.

The mining and manufacturing industries were the driving force of the economy, contributing 1,547.6 billion AZM (47.2%) to GDP composition.

The agricultural sector generated only 62.9 billion AZM (1.9%), which is overshadowed by the performances of the construction and transportation sectors, as well as wholesale and retail trading - 353.2 (10.8%), 240.8 (7.3%) and 263.7 (8%) billion AZM respectively. Finally, the communication sector produced output and services worth 117.4 billion AZM (3.6%), and social services amounted to 427.3 billion AZM (13%).

In the meantime, GDP per capita amounted to 398,500 AZM (81.3 U.S. dollars), up 5.9% from the last year's figure. That for the entire year is expected at 5.8 million AZM or 1,177.6 U.S. dollars.