Azerbaijan's GDP up 3.3% y/y in January-October

By bne IntelliNews November 23, 2015

Azerbaijan's GDP grew by 3.3% y/y to AZN45.9bn (€41.3bn) in January-October, according to the country's State Statistical Committee (Azstat).

The Azeri economy continues to be dominated by hydrocarbons exploration, although the drop in oil prices in the last year has seen its contribution to GDP dwindle to 30.8% in January-October, down from over 40% three years ago.

Industry overall, including the energy sector, contributed to 33.8% of GDP, services accounted for 38.6% of GDP, construction for 13.8%, agriculture and forestry for 6.2%, while net taxes on imports to 7.6% of GDP in January-October.

In the first ten months of 2015, the non-oil economy grew by 5.2% y/y, while the energy sector grew by 0.5% y/y.

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