Azerbaijan’s economic growth slows in Jan-Apr

Azerbaijan’s economic growth slowed in the first four months year-on-year as oil production continued to decline.

Gross domestic product expanded 3.2 percent in January-April, down from 3.8 percent a year earlier, according to the State Statistics Committee.

The country pumped 14.1 million tons of crude oil during the period, a decline of 200,000 tons from a year earlier. 

Production of marketable natural gas increased to 6.1 billion cubic meters from 5.9 billion cubic meters.

The non-oil economy expanded 9 percent compared with 10.9 percent year-on-year.

Industrial production declined by 2 percent while consumer prices grew 1.9 percent, the committee said.

Bakudaily.az