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Azerbaijan's GDP up 41.7% y-o-y in 2M07

26 March 2007 [14:55] - TODAY.AZ
Azerbaijan saw its Gross Domestic Product grow 41.7% year-on-year to $3.8 billion in January and February 2007, the South Caucasus nation's government statistics agency said Monday.

Population income grew 33% over the period, to $2.123 billion.

The average per capita income reached $252 in the year's first two months, a 31.5% increase on 2006.

The post-Soviet Caspian nation has been able to step up its economic development and improve living standards in recent years due largely to high foreign investment in its vast hydrocarbon reserves as well as revenue from oil exports. RIA Novosti


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