Azerbaijan’s economy expanded 2.4 percent in the first eight months of 2014 year-on-year, the State Statistics Committee said today.

Economic growth slowed from 5.2 percent during the same period last year.

Oil output fell to 28.6 million tons from 29.1 million tons, while production of marketable natural gas increased to 12.3 billion cubic meters from 11.7 billion cubic meters. 

The non-oil economy expanded 6.3%. Industrial production fell 1.2 percent and agricultural output declined 3.7 percent, the committee said.

Consumer prices grew 1.4 percent.

Bakudaily.Az