OREANDA-NEWS. April 10, 2009. Within the monitoring of economic environment the National Bank (NB) of Azerbaijan has reported that for Jan-Feb 2009 non-oil sector strengthened its position of an engine of national economy: gross domestic product in non-oil sector grew by 13.9% against the background of country’s overall GDP growth by 3.4%.

Following 2008 non-oil GDP growth (+15.7%) exceeded for the first time rise of country’s overall GDP (10.8%).

The NB informs that as of 1st March 2009 country’s non-oil GDP made AZN 891.5 million(including AZN 1.188 bn in February 2009) that is by 13.9% more versus the indicator by 1st March 2008 when it was AZN 1.518 bn with growth of 10.1%.

At the same time growth of overall GDP for Jan-Feb 2009 made only AZN 3.859 bn (including AZN 1.999 bn in February 2009), i.e. 80.96% of the indicator by 1st March 2008 when it was AZN 4.767 bn with 13.4% growth.

Following Jan-Feb 2009 non-oil GDP reached 53.89% of overall GDP versus 38.81% for 2008.
This February non-oil GDP was 59.4% of overall GDP versus 47.93% in January of the year.
Non-oil GDP growth exceeds overall GDP rise for the last seven months successively (August, September, October, November, December of 2008, January and February of 2009).
Exchange rate by early March 2009 was AZN 0.8052 to the US dollar. According to this rate, non-oil GDP reached USD 2.58 bn.