Azerbaijan’s economy expands 2.5% in first quarter

Azerbaijan’s gross domestic product grew 2.5 percent in the first three months year-on-year, the State Statistics Committee said on its website.

Economic growth slowed from 3.1 percent a year earlier, the Baku-based committee said.

The non-oil economy grew 8.8 percent while industrial production fell 2.4 percent.

Oil output declined 3.7 percent to 10.4 million tons. 

Agricultural production increased 3.4 percent.

Inflation grew 2 percent year-on-year on food and non-food prices, the committee said.