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Azerbaijan Economics

Socio-economic development of the Republic of Azerbaijan

The real GDP growth rate was 1.1% and amounted to AZN 54.4 billion at current prices. Volume of GDP on per capita was AZN 5703.7 (5558.7 US dollars).

Graphic 1

Total non-oil sector dynamics grew by 1.1% in real term in 2015. So, 6.8% growth was recorded in communication, 14% in tourist accommodation and catering area, 10.9% in trade and 6.6% in agriculture over 2015 compared to 2014.

Investment in the amount of AZN 15957.0 million was directed into the fixed capital from all financing sources into development of economic and social sectors of country in 2015. 56.0% of the total directed investment to the fixed capital fall at domestic investments and 44.0% at foreign investments. Investments worth 8796.3  million AZN (55.1%)  were made into non-oil sector, and AZN 7160.7 million (44.9%) - into oil sector.

For December 1, 2015, the volume of credit recourses allocated by financial institutions was AZN 18744.3 million increasing by 3.3% compared to December 1, 2014 (for December 1 of 2014 credits allocated to economy increased by 19.1%). Bank deposit of population was 7089.5 million AZN for the 1st December, 2015.

The total amount of goods sold in the consumer market and rendered services was 34295.1 AZN by increasing 9.7% compared to the same period of previous year. Commodity turnover increased by 10.9% compared to the same period of 2014, as well as, volume of paid services by 5.1%. During 2015 in the amount of AZN 12.9 milliard food products and AZN 12.8 milliard non-food products were purchased by population from consumer market and the volume of these indicators increased by 10.1% and 12.8% compared to the same period last year respectively.


During January-November of 2015 the average nominal monthly wage of employees in economy increased by 4.5%, and amounted to AZN 462.0 compared to the same period of 2014.  The income of population has reached AZN 4380.1 per person increasing 4.5% in 2015.

Foreign trade turnover volume was accounted 18.8 billion U.S. $, including volume of export 10.6 billion U.S.$, import 8.2 billion U.S.$, the trade balance was positive 2.4 billion U.S.$ over January-November 2015. 

http://economy.gov.az

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