Azerbaijan non-oil sector seen reaching 82% of GDP by 2030

Azerbaijan’s non-oil and gas sector is projected to account for 82% of gross domestic product by 2030, while GDP per capita is expected to reach $9,600, Deputy Economy Minister Azer Bayramov told a joint parliamentary committee session during discussions on the 2027 draft state budget.

Bayramov said fiscal projections rely on a conservative baseline oil price assumption of $65 per barrel. Under the government's macroeconomic forecast, overall GDP growth is projected at 2.7% in 2027.

For the 2027–2030 medium-term period, average annual economic expansion is forecast at 3.3%, driven by projected annual growth of 4.4% in the non-oil and gas sector.