Azerbaijan's economy grows by 4%

In January-March 2024, Azerbaijan produced a GDP of 29.096 billion manats ($17.11 billion), up 4% year-on-year, reported from the State Statistical Committee.

Over the past year, added value in the oil and gas sector of the economy increased by 0.4%, and 6.7% in the non-oil and gas sector.

According to the data, 39.3% of GDP production was formed in industry, 9.7% in trade; repair of vehicles, 6.8% in transport and warehousing, 5.9% in construction, 2.9% in agriculture, forestry, and fishing, 2.4% in tourist accommodation and catering, 1.7% in information and communications, and 20.4% in other spheres. Net taxes on products and imports amounted to 10.9% of GDP.

The GDP per capita amounted to 2856 manats ($1,679.58).

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