Azerbaijan details share of private sector in its economy

In 2024, the private sector in Azerbaijan accounted for 81.4% of the gross domestic product (GDP), said MP Azer Amiraslanov, Chairman of the Committee for Economic Policy, Industries and Enterprising at the Milli Majlis (Parliament) of Azerbaijan, Report informs.

Amiraslanov made the announcement during a conference held in Baku, titled "Constitution and Sovereignty - Development of Entrepreneurship in Azerbaijan." The event was dedicated to Entrepreneurs Day and the Year of Constitution and Sovereignty.

Moreover, the country’s private sector accounted for 76.1% in the non-oil-gas field, 81.4% in industrial production, including 71.8% in non-oil-gas industrial production, 71.9% in the service sector, and 99.8% in the agricultural sector during last year, he added.

"These figures show that entrepreneurship supports the state's goals of economic diversification and sustainable economy. Businesspeople will continue to contribute to strengthening the economic foundations of our sovereignty and independence," the MP highlighed.