Growth rate in construction sector fell by 11.2%


September 25, Fineko/abc.az. The rate of economic growth in Azerbaijan against the background of growth in domestic demand rose from 1.3% in the first half of 2018 to 2.4% in the first half of this year.

According to ABC.AZ, this is stated in the “Overview report on the development of Asia for 2019”.

According to the Report, industry growth over the specified period amounted to 1.8%. Growth was recorded in the mining industry by 1.6% and in the oil industry by 13.5%, despite the fact that after the closure of the largest oil platform due to planned maintenance activities, oil production dropped by 3.0%. As a result of the start of full-scale production at the Shah Deniz field, gas production increased by 35%. As a result of a decrease in investment in the construction industry, the growth rate dropped by 11.2%. The growth in the services sector was 3%, in transport  2.5%, in trade 2.8%, in tourism and leisure 3.3%. Agricultural growth was 13.1%, thanks to favorable weather conditions.

Posted by Elmir Murad