AZERBAIJAN - Jan. 23 - Economy Grows; Foreign Investment Dips.The State Statistics Committee reports the country's economy expanded by 11.4% in 2000, outracing the 7.4% growth in GDP GDP (guanosine diphosphate): see guanine. in 1999. Total GDP amounted to 21.9 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. manats ($4.7 bn). Growth occurred primarily in the agriculture and transport and communications sectors, which increased by 18% and 16%, respectively. Industrial production accounted for nearly 25% of GDP. But foreign direct investment remained at the same level as in 1999, at 2.3 trillion manats (around $517m) and fell in dollar terms by 2.7%. Total investment was almost equally divided between foreign and local investors and remained dominated dom·i·nate v. dom·i·nat·ed, dom·i·nat·ing, dom·i·nates v.tr. 1. To control, govern, or rule by superior authority or power: by the petroleum sector. (The economy depends on energy, which has experienced a slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. in the past three years. Observers warn that inflation could increase if other sectors are not developed). |
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