Azerbaijan’s economy expands 0.8% in January year-on-year

Azerbaijan’s gross economic product grew 0.8 percent in January year-on-year, the State Statistics Committee said on its website. 

That compares with a 2.8 percent growth reported in the same period last year.

Industrial production fell 4 percent in January as the country pumped 5.1 percent less oil, the committee said.

Output of natural gas expanded 6.7 percent.

Azerbaijan’s non-oil economy grew 7.7 percent and agricultural production increased by 3.3 percent, the committee said.

Consumer prices were up by 2.2 percent as food and service prices grew.

The economy expanded by 5.8 percent last year and 2.2 percent in 2012. 

ANN.Az