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Economic Diplomacy/ Sole 24 Ore – 5 September 2013: latest news from around the world. Azerbaijan: GDP growth (of 5.3%) exceeds expectations

The new projections for the Azerbaijani economy suggest an average GDP growth of 5.3%, a notable increase on the initial World Bank and IMF forecasts of 3.5% per year.

The review can largely be explained by the 9.7% growth in the non-oil sector, which accounts for 52.7% of GDP. The drivers were the construction sector (up 39%), agriculture and telecommunications. Oil production increased by 2%, while prices on the property market saw a rise of 4.6%.

Italian exports, of about 190 million euros, increased by 26% on the 154 million euros of the previous year. Machinery accounted for the lion’s share of our exports, at 25% of the total, followed by furniture, textiles and clothing, mineral products, equipment and agriculture products. Source: infoMercatiEsteri. Read more, in Italian.

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