Azerbaijan records 6 per cent increase in GDP

The value of Azerbaijan’s gross domestic product (GDP) amounted to 74,155.2 million manats ($43.6 billion) from January to July 2022, which is 6.2 per cent more than the same period in 2021.

Over the past year, the value-added in the oil and gas sector of the country’s economy was 0.4 per cent, and in the non-oil and gas sector - 9.9 per cent, Report informs, citing the State Statistical Committee.

As much as 52.9 per cent of GDP production falls on the industry, 7.7 per cent - on trade, and vehicle repair, 6 per cent - on transport and storage, 5 per cent - on agriculture, forestry and fisheries, 3.8 per cent - on construction, 1.4 per cent - on the hotel business and public catering, 1.3 per cent – on information and communications, 14.3 per cent - on other industries.

At the same time, net taxes on goods and imports amounted to 7.6 per cent.

GDP per capita increased by 56.2 per cent and amounted to 7,376 manats ($4,339).