Source: bne:Invest in Azerbaijan, September 2014

Azerbaijan’s GDP expanded by 4.3% over the first half of this year from the year-earlier period, according to a report by the State Statistics Committee.

The non-oil economy continued to grow more quickly than the rest, up by 6.8% over the period, to account for 56.8% of the total economy. At the same time, the raw materials production growth and its share of the overall economy both continued to shrink: the volume of production of value added in mining and processing of oil and gas decreased by 3.1% over the same period.

The biggest contributions to GDP were: industry (45.5%), followed by services (31.14%), agriculture (11.4%), and trade and repair of vehicles (7.6%). Despite a big push by the government, information and communication services accounted for just 1.7% of GDP.

The GDP per capita also grew, rising by 1.1% on year over the same period to amount to AZN 3,621.3 ($ 4,617.3), the report said.