Azerbaijan’s economy expands 1.6% in first two months

Azerbaijan’s economy grew 1.6 percent in the first two months of 2014 year-on-year, the State Statistics Committee said on its website.

Economic growth slowed from 3.2 percent a year earlier, the committee said.

Industrial production fell 3.7 percent while the non-oil economy climbed 8.8 percent.

Agricultural output increased by 3.4 percent. Capital investment was up 7.9 percent.

Consumer prices grew 2.1 percent as food and non-food prices increased, the committee said.

Azerbaijan produced 6.8 million tons of crude oil during the period, down from 7.2 million tons a year earlier. Production of marketable natural gas grew to 3.1 billion cubic meters from 2.9 billion cubic meters.

ANN.Az