Over the past 20 years (2003–2023), the gross domestic product (GDP) per capita in Azerbaijan increased by 2.9 times and amounted to 12,114.5 manats ($7,127.67), Report informs.
During the reporting period, GDP in Azerbaijan increased by 3.6 times to 123 billion manats ($72.37 billion) from 7.1 billion manats ($4.17 billion). Also, the GDP in the oil and gas sector increased from 2.3 billion manats ($1.35 billion) to 45.3 billion manats ($26.65 billion), and the non-oil and gas sector increased by 3.5 times from 4.9 billion manats ($2.88 billion) to 77.7 billion manats ($45.72 billion).
In 2003–2023, the share of the private sector in GDP increased by 13.2 percentage points, from 73.3% to 86.5%. The share of industry in GDP increased by 3.1 percentage points, from 37.3% to 40.4%.