Macro-economic indicators of economic and social development of the country in the first quarter of 2014

Macroeconomic indicators reflecting development of economic and social spheres slightly increased in the first quarter of 2013, income and salary/wage of the well-being of population increased, inflation stayed at a minimum level.
Production of gross domestic product (GDP) increased by 2.5% and formed 13.2 milliard manat compared to January-March, 2013. 48.4 % of value added was produced in industry, 9.6% in construction and 11.4% in trade and in the field of paid services, 6.1% in transport, 1.8% in information and communication enterprises, 2.4% in agrarian and 13.4 % in other fields. On average for per capita in amount of 1403.4 manat (1789.2 US dollars) value added was produced in the production of GDP and it was increased by 1.1% compared to the corresponding period of last year.
54.8% of value added produced in non-oil sector was increased by 8.8% compared to January-March of last year and it was decreased by 4.1% in oil-gas sector.
In the first quarter of 2014 in amount of 8.2 milliard manat or less than 2.4% compared to the corresponding period of last year industrial products were produced by industrial enterprises and natural entities engaged in this sector. The main reason of decreasing is due to the decline in oil production. 71.8% of products were produced in mining sector and 10.4 million tons oil and 4.5 milliard cubic meters marketable gas was produced.
During three months in amount of 1, 7 milliard manat or more than 0.8% industrial products were produced in processing sector of industry. Production of food products in this sector increased by 2.5%, production of textile industry – 8.7%, production of clothing – 7.0%, production of chemical products – 12.3%, metallurgy industry – 17.5%, production of construction materials – 17.8%, production of machine and its devices – 10.8%, production of electronic devices – 58.4%, production of automobile and trailers – 2.8 times, production of other transport means – 3.5 times, production of furniture – 43.7%, production of jewelry, music, sport and medical technics – 61.7%, installation and maintenance of machines and its devices – 35.1%.
6.5% or 532.4 million manat industrial products were produced in the sector of electricity, gas and steam production, supply and distribution. 6.0 milliard kWh produced electricity was more than 4.1% compared to the level of last year.
Output production was increased by 17.0% in water supply, waste management and processing sector.
Output production in non-oil sector of industry increased by 6.8% and it was decreased by 3.6% in oil-gas sector.
During three months 99.4% of produced products were sent to consumers. Taking into account the reserves established in previous periods in the warehouses of industrial enterprises had in amount of 295.3 million manat ready products and it was decreased by 27.5 million manat compared to previous month.
In the agrarian sector the works on spring-field is carrying out rapidly and till the 1st of April sowing spring crops have been carried out in the 120.0 thousand hectare sowing area. During this period in the sowing area with 8.1 thousand hectare grain and grain legumes (excluding maize) have been planted, maize for grain - in the area with 3.2 thousand hectare, potato - in the area with 29.5 thousand hectare, vegetable – in the area with 25.1 thousand hectare, cotton – in the area with 70 hectare, market garden crops – in the area with 3.7 thousand hectare, sunflower for grain – in the area with 2.1 thousand hectare, sugar-beet – in the area with 1.8 thousand hectare and perennial grasses - in the area with 46.2 thousand hectare.
Within the increasing of head number of live-stock in the sector of cattle-breeding also production of cattle-breeding products is increasing dynamically. In the first quarter compared to the corresponding period of last year head number of cattle increased by 1.1% and reached to 2718.9 thousand and number of sheep and goat increased by 1.0% and reached to 8852.8 thousand head. During this period production of meat in live weight increased by 2.4% and become to 107.1 thousand tons, production of milk increased by 2.8% and become to 405.5 thousand tons, production of egg increased by 13.6% and become to 371.3 million units.
From the beginning of the year about 11.9 thousand tons or more than 9.4 % compared to last year vegetable was gathered from the fields.
Thus, total harvest of agriculture compared to the first quarter of last year increased by 3.4%, as well as, production of plant-growing products - 5.5%, production of cattle-breeding products – 3.3%.
For the implementation of construction works in the country from all financial sources in amount of 3125.9 million manat or more than 7.0 % compared to corresponding period of previous year funds were directed to the fixed assets. 2106.8 million manat of fund was used in the construction of facilities on production output and it was increased by 25.4% in the comparable period. 70.0% or 2189.5 million manat of fixed assets was spent to the building of production facilities; its 67.5% (2109.7 million manat) was formed internal investments.
During three months with financial support from various sources with total area of 373.6 thousand square metre dwellings, secondary schools with 1820 places for pupils, pre-school institutions with 390 places, hospitals with 200 beds, in Baku city - Health centre, new administrative-academic complex of National Conservatory, in Sumgait city - Azerbaijan paper and cardboard factory, Oil factory, Copper processing plant, in Gabala region - first stage of “Tufan” Alpine Skiing Summer and Winter Recreation Complex, in Goy-Gol region – Olympic Sport Complex and Youth Centre and others were put into operation.
During January-March 49.2 million tons cargo and 414.2 million person was transported by the transport enterprises engaged in cargo transportation and conveyance of passengers and more than 1.5% cargo and more than 6.2% passengers were transported compared to the corresponding period of last year.
As in the past year information and communication field is developing rapidly in the current year. During three months of the year in amount of 364.4 million manat services was rendered to population, institutions and organizations by the information and communication institutions. Volume of information and communication services increased by 12.4% compared to January-March, 2013, 72.3% of services were rendered to population.
According to the data received from State Customs Committee in amount of 5.0 milliard US dollars trade operations, as well as, in amount of 1.2 milliard dollars import and 3.8 milliard export operations were carried out with foreign countries during January-February and in amount of 2.6 milliard dollars positive balance was created.
Value of commodity exchange with comparative prices was decreased by 8.9% compared to January-February, 2013 as well as, volume of export – 6.1%, volume of import 17.8%. 91.9% or 4.6 milliard dollars of trade relations excluding CIS member countries were carried out with other countries, 8.1% or 402.3 million dollars with CIS member countries and volume of trade operations with comparative prices correspondingly decreased by 6.4% and 29.4%.
Value of exported goods from the country with comparative prices decreased by 4.0% with other countries excluding CIS member countries and in the volume of 3.7 milliard dollars products were sent. At the same time volume of exported good to CIS member countries decreased by 44.8 % and formed 114.0 million dollars.
901.6 million dollars of imported goods to the country received from other countries excluding CIS member countries and 288.3 million dollars from CIS member countries and it was correspondingly decreased by 16.0% and 23.3%.
Taking into account the data of State Oil Company and AIOC foreign trade turnover on export of crude oil and gas was formed 6.4 milliard dollars, as well as, export – 5.2 milliard dollars and 4.0 milliard dollars positive balance was created.
In the first quarter of 2014 income of per person of country residents on average increased by 3.2 % and reached to 969.2manat. 70.9 % of income was spent to final consumption, 8.6% - taxes, payment of social insurance and voluntary membership, 18.3% - increasing of deposits and capital.
Increase of salary/wage of employed persons has a great importance in increase of income. During January-February average monthly salary/wage of employed persons increased by 6.7% compared to the corresponding period of 2013 and formed 426.4 manat. Salary/wage of persons engaged in industry, construction, transport and etc. was higher and during January-February salary of persons engaged in industry was formed 652.9 manat, in construction complex – 615.1 manat, in transport – 521.8 manat, in information and communication – 661.1 manat.
Increasing of population income creates opportunity to purchase consumer goods and to use services from trade networks. During three months in amount of 5083.7 million manat consumer goods were purchased and 1566.2 million manat was paid for rendered services by population. Commodity turnover increased by 9.2% compared January-March, 2013, as well as, selling of food products – 1.2%, selling of non-food products – 19.9% and also volume of paid services increased by 7.0%.
In the first quarter of 2014 in amount of 626.0 thousand manat non-food products and 57.7 thousand manat food products were sold to customers by e-commerce.
In March compared to February prices and service tariffs of consumer goods increased by 0.3%, as well as prices of food products – 0.6%, service tariffs – 0.1% and prices of non-food products was stable as in February. Prices and service tariffs of consumer goods during January-March compared to the corresponding period of 2013 increased by 2.0%, as well as prices of food products – 2.2%, prices of non-food products – 3.5% and prices of service – 0.3%.
According to the data of Ministry of Finance in January-February in amount of 3112.1 million manat fund were received by the state budget, in amount of 3062.6 million manat were spent from budget, 1888.7 million manat of allocated fund were directed to the development of economy, 370.7 million manat – social protection and social security, 209.4 million manat – education and health. Budget surplus was 49.5 million manat or 0.6% of GDP.
In amount of 15.7 milliard manat credit were given to natural and legal entities by finance-credit organizations of the country until the 1st March, 2014. The volume of given credits increased by 28.3% compared to 1st March, 2013, 78.2 % or 12.2 milliard manat of it was long-term. 831.6 million manat or 5.3% of credits payment was expired.
Amount of deposits of population in banks during a year increased by 21.7% and reached to 6.6 milliard manat for the state of 1st March. 61.1% of deposits were with national currency and 38.9% with foreign currency.
In March 1 US dollar was 0.78 manat, 1 Euro – 1.09 manat, 100 Russian roubles – 2.17 manat and in the beginning of the year it was correspondingly equal to 0.78, 1.08, and 2.15 manat.