Press-release, 20 July 2005

AZERBAIJAN’S GDP GROWTH EXCEED 16,5% THIS YEAR

According to the report of the State Statistical Committee of Azerbaijan GDP growth is estimated at 16,5 per cent (AZM 24,5 trillion) for the half year compared with a year earlier. The report said that because GDP had grown faster, per capita income improved in 2005 to reach AZM 3 million.

As said at a press conference Arif Valiyev, chairman of the State Statistical Committee, for the last period due to economic policy by the Azerbaijan President Ilham Aliyev a big growth had been observing in economy.

The report pointed out that industrial sphere had been improving faster than other. Industrial output, which accounted for a third of the GDP, grew at 20,1 per cent. Exports rose by just 27.4 per cent against almost 20 per cent last year.

Agriculture, which had been developing faster than last year, got also support by the government.

The half-yearly GDP growth had positive components with building sector, that getting an investments at AZM 12,8 trillion.