ADB: GDP per capita will increase by 2.5% in Azerbaijan

The Asian Development Bank (ADB) expects the value of the gross domestic product (GDP) per capita in Azerbaijan this year to increase by 2.5% compared to 2022, Report informs, citing the Bank's Asian Development Outlook for April.

According to the document, the bank expects GDP per capita growth in Azerbaijan to be 2.8% in 2024.

ADB predicts a 3% increase GDP per capita in the Caucasus and Central Asia region this year and a 3.2% increase next year.

According to the State Statistics Committee, in 2022, the value of the gross domestic product per capita in Azerbaijan increased by 43.4% and reached 13,292 manats ($7,819).

In 2022, Azerbaijan’s GDP was 133.8 billion manats ($78.7 billion), 4.6% more than in 2021.