Nagorno-Karabakh GDP Grows by 7.4 Percent in Six Months

Nagorno-Karabkh's GDP has seen a 7.4% increase in the first six months of 2015
Nagorno-Karabkh's GDP has seen a 7.4% increase in the first six months of 2015

Nagorno-Karabkh’s GDP has seen a 7.4% increase in the first six months of 2015

STEPANAKERT (ARKA)—The Nagorno-Karabakh Republic reported a 7.4 percent increase in gross domestic product (GDP) for the first six months of this year, growing to 83.5 billion drams. According to the NKR National Statistical Service, per capita GDP was 558,600 drams (1,171.40 USD).

Industrial output during the same period grew by 24.2 percent to 25.8 billion drams in current prices.

The mining industry accounted for 26.6 percent of output for the first six months of 2015, while processing enterprises accounted for 35.8 percent. Energy, including electricity, gas, and steam, accounted for 36.5 percent, and water, sewage, and waste management accounted for 1.1 percent. Sales of finished products between January and June of 2015 amounted to 25.7 billion drams.

Production of meat, milk and eggs grew by 8.1, 6, and 2.3 percent respectively, while wool production decreased by 0.5 percent. During the reporting period, 14.8 billion drams worth of construction was implemented, a decrease of 27 percent year-on-year.

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