Azerbaijan’s economy projected to grow 2.9% in 2026

Azerbaijan’s gross domestic product (GDP) is projected to reach 134.1 billion manats ($78.6 billion) in 2026, representing a 2.9% real growth compared with the previous year, Finance Minister Sahil Babayev said during discussions of the 2026 state budget bill.

Over the past five years, nominal GDP increased by 36.7 billion manats (39.3%), while real GDP grew by 19%.

The non-oil GDP stood at 101.7 billion manats in 2025, marking a 5% real increase. Over the past five years, the non-oil sector expanded by 36 billion manats (62.7%) in nominal terms and 34% in real terms.

During the reporting period, the average export price of crude oil was $65 per barrel, annual inflation averaged 4.8%, and the manat exchange rate remained stable at 1.7 to the U.S. dollar.