Azerbaijan's economy grows by about 5%

In 2022, Azerbaijan produced a gross domestic product worth 133.8 billion manats ($78.71 billion), or 4.6% more than in the same period last year, reported from the State Statistical Committee.

Over the past year, value added decreased by 2.7%, in the oil and gas sector of the economy while it increased by 9.1% in the non-oil and gas sector.

The committee noted that 51.1% of GDP production came from industry, 8.2% from trade; vehicle repair, 6% transport and warehousing, 4.8% agriculture, forestry and fishing, 4.8% construction, 1.6% tourist accommodation and public catering, 1.4% information and communication sectors, 14.7% by other sectors, and net taxes on products and imports made up 7.4% of GDP

Over the past year, GDP per capita in the country grew by 43.4% to 13,292 manats ($7,820).

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