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Azerbaijan sees 4% decline in economy

14 December 2016 12:05 (UTC +04:00)

In January-November 2016, the Gross Domestic Product (GDP) made up AZN 54,433,100,000, down 3.9% from previous year, said a statement from the State Statistical Committee.

The decline is caused by 27.9% decrease in production of construction products compared to the previous year.

At the same time, 37.5% of the value added was formed in industry, 10.7% in trade; repair of transport vehicles, 10.3% in construction, 6.7% in transport and storehouse, 2.5% in tourist accommodation and catering services, 5.4% in industry, forestry and fishery, 1.8% in information and communication, and 17.6% in other spheres.

New taxes to product and import made 7.5% of GDP. GDP per capita amounted to AZN 5,649.9.