Azerbaijan discloses GDP growth rate for 8M2022

Finance Materials 13 September 2022 13:59
Baku, Azerbaijan Trend News Agency
Azerbaijan discloses GDP growth rate for 8M2022

Azerbaijan's GDP exceeded 84.8 billion manat ($49.8 billion) from January through August 2022, increasing by 5.8 percent compared to the same period of 2021, Trend reports citing the country's State Statistical Committee.

Meanwhile, the value added in the oil and gas sector decreased by two percent, while the added value cost in the non-oil sector edged up by 10.3 percent year on year.

In the reporting period, GDP per capita settled at 8,440 manat ($4,960), whereas industry accounted for 52.5 percent of GDP in Azerbaijan.

According to the agency, 7.9 percent of GDP fell on trade and repair of vehicles, 6.1 percent – on transport, and storage, 5.1 percent – on agriculture, forestry, and fish farming, 3.9 percent – on construction, 1.5 percent – on tourist accommodation and public catering, as well as 1.3 percent – on information and communication. A total of 14.1 percent accounted for other economic sectors.

Net import tax revenues during this period made up 7.6 percent of GDP.