14 Aug 2012 13:18

Azerbaijani GDP grows 1.6% in Jan-July

BAKU. Aug 14 (Interfax) - Azerbaijan's gross domestic product increased 1.6% year-on-year to AZM 30.783 billion in the period January-July of this year, the country's State Statistics Committee reported on its website.

The non-oil sector's contribution to GDP growth was 11.3% to AZM 15.197 billion. There was a decline in output in the oil sector of 6%.

The committee reports that the production sectors accounted for 67.4% of GDP, services for 26.5%, and taxes for 6.1%.

Per capita GDP in the country was AZM 3,364.7 ($4,280.9) for the seven months.

The Azerbaijani government projects GDP growth for 2012 at 5.7%. GDP grew 0.1% in 2011.

The official exchange rate for August 14: AZM 0.7855/$1.