About socio-economic development
The real growth rate of GDP was5% and 41,6 billion manat in current prices in 2010. Volume of GDP increasing by 3.7% was 4653.3 AZN (5797,8 U.S. dollars) per capita in real terms.
Growth dynamics of non-oil sectors totally resulted as 7.9% rose in real terms in 2010. Thus, the area of communications increased by 29.7%, area of transportation 4.3% and the building area 20.3% last year. At the same, was recorded 6.2% growth in the non-oil industry.
To be an important area of non-oil sector, total production in agricultural 2.2%, as well as crop production decreased by 8.9% but the production of animal products increased by 6.1%.
Investments worth as AZN 9715.2 mln. were laid into the fixed capital from all financing sources into development of economic and social sectors of country that exceeds last year comparable prices by 21.2%. 75,2% of the total directed investment to the fixed capital fall at domestic investments and 24,8% at foreign investments. Investments worth 6767,6 mln. AZN (69,7%) - were made into non-oil sector, and 2947,6 milyon AZN(30,3%) - into oil sector in 2010.
The volume of credit investments to the economy by the banks grew by 12.8% to 8900,2 mln. AZN on December 1, 2010, compared to last year
The bank deposits of the population increased by 27.4% to 2868.4 million AZN on December 1 of last year, compared to the same period of 2009.
A wide range paid services and consumer goods worth AZN18404 mln. were sold to the population in 2010 that exceeds the indicators for 2009 by 9,4% .During the reporting period the turnover of commodity increased by 9%, the volume of paid services 10,8%, compared to 2009,
Residents of the country bought with amount of AZN 8796,1 mln. Food products and. 4883,4 mln. AZN non-food products from the trade network during the previous year and The real weight of these indicators increased by 13.8% and 7.5%, respectively, compared to the same period of 2009. Average of monthly wages of hired employees for the country's economy increased by 9.1% to 325 AZN in last year, compared to 2009
The income of population has increased by 11,9% to 2866 manat per capita.
During the reporting period, foreign trade turnover was 27.1 billion. U.S. dollars, including export 21.8 billion. U.S. $, imports 6.4 billion U.S. $. and trade balance was positive 14.4 billion U.S. $. According to the State Statistics Committee, the average of annual inflation rate was 5.7%. for the year 2010. During this period, the average of annual exchange rate of manat against 1 U.S. dollar was 0.8026 AZN.