OREANDA-NEWS. November 12, 2008. Within the monitoring of economic environment the National Bank (NB) of Azerbaijan has reported that as of October 1, growth of gross domestic product in non-oil sector for the three quarters of 2008 has exceeded country’s overall GDP growth compared to the same period of 2007.

The NB informs that as of 1st October 2008 country’s non-oil GDP made AZN 9,853.2 million that is by 15.4% more versus the indicator by 1st October 2007 when it was AZN 6,301.5 million with growth of 8.9%.

At the same time growth of overall GDP for the reported period made only 15%: as of 1st October 2008 GDP was AZN 30,370.4 million that is by 27.1% more against the index by 1st October 2007 when it reached AZN 16,608 million with 27.1% rise.

As of 1st July 2008 country’s non-oil GDP made AZN 5.694 bn that is by 15.6% more versus the indicator by 1st July 2007 when it was AZN 3.688 bn with growth of 7.8%. As of 1st July 2008 overall GDP growth was AZN 18.505 bn that is by 16.5% more against the index by 1st July 2007 when it reached AZN 10.67 bn with 35.1% rise.

Let’s mention it is the second month in a row when non-oil GDP growth exceeds overall GDP growth: by September 1 non-oil GDP reached AZN 8,627.1 million with rise of 14.8% compared to the same period of 2007 while overall GDP made only AZN 25,891.9 million with rise of 13.2%.

Average exchange rate for the three quarters of 2008 was AZN 0.83 = USD 1.