Azerbaijan's economy grows over 7%

In January-April this year, Azerbaijan produced gross domestic product (GDP) worth nearly 40 billion manats ($23.5 billion), up 7.2% compared to the same period last year.

SİA informs, citing the State Statistics Committee, that the value added in the country's oil and gas sector increased by 0.2% and in the non-oil and gas sector by 11.4% over the past year.

Industry made up 54.8% of GDP, trade, and repair of vehicles each constituted 7.7%, transport and warehousing were responsible for 6%, construction accounted for 4%, agriculture, forestry and fishing for 2.4%, information and communication for 1.4%, tourists accommodation and catering for 1.3%, other areas accounted for 14.5%, while net taxes on products and imports amounted to 7.9% of GDP.

During the year, the country's GDP increased by 57.15% to 3,938 manats.

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