Azerbaijan’s economy grows in 1H2024

13:07 | 10.07.2024
Azerbaijan’s economy grows in 1H2024

Azerbaijan’s economy grows in 1H2024

Azerbaijan generated just over 59.52 billion manats (just over $35 billion) of GDP in the first six months of 2024, which is 4.3% more than year-on-year, reported from the country’s State Statistical Committee.

Over the past year, the production of added value in Azerbaijan's non-oil and gas sector grew by 6.9% and rose by 0.6% in the oil and gas sector.

In Azerbaijan, industry comprises 38.5% of the total GDP, followed by trade and vehicle repair - 9.7%, transport and warehousing - 7%, and construction - 5.8%. Agriculture, forestry, and fishing contribute 5.8%, while tourist accommodation and catering account for 2.4%. Information and communication represent 1.7%, and other areas, along with net taxes on products and imports, constitute 19.5% and 9.6% respectively.

During the reporting period, the value of GDP per person was 5,841 manats (about $3,435).

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