Azerbaijan's economy grows slightly

In January-April 2023, Azerbaijan produced a gross domestic product worth 39,986.5 million manats ($23.52 billion), or 0.1% more than in the same period last year, reported from the State Statistical Committee.

Over the past year, value added decreased by 2.9% in the oil and gas sector of the economy while it increased by 3.1% in the non-oil and gas sector.

The committee noted that 46.8% of GDP production came from industry, 8.9% from trade; vehicle repair, 5.5% from transport and warehousing, 2.8% from agriculture, forestry, and fishing, 4.6% from construction, 2.1% from tourist accommodation and public catering, 1.5% from information and communication sectors, and 17.6% from other sectors. Net taxes on products and imports made up 10.2% of GDP.

Over the past year, GDP per capita in the country grew by 0.2% to 3,946 manats ($2,321).

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