Bloomberg News

Azeri Economy Grows 0.2% in 11 Months, Statistics Committee Says

December 16, 2011

Dec. 16 (Bloomberg) -- Azerbaijan’s gross domestic product grew 0.2 percent in the first 11 months from a year earlier, the State Statistics Committee said on its website.

The non-oil economy expanded 9.5 percent while the oil industry shrank 9.1 percent, according to the report. The inflation rate reached 8 percent after food prices grew 10.7 percent, the committee said.

Capital investments in the January-November period amounted to $13 billion, an increase of 28.3 percent from the same period last year, it said.

--Editor: Paul Abelsky

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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