Azerbaijan's economy grows by 4%

In January-March 2024, Azerbaijan produced a GDP of 38.18 billion manats ($22.44 billion), up 4.3% year-on-year, Report informs, citing the State Statistical Committee.

Over the past year, added value in the oil and gas sector of the economy decreased by 0.1%, and increased by 7.7% in the non-oil and gas sector.

According to the data, 40.3% of GDP production was formed in industry, 9.5% in trade; repair of vehicles, 6.9% in transport and warehousing, 6% in construction, 3.1% in agriculture, forestry, and fishing, 2.4% in tourist accommodation and catering, 1.7% in information and communications, and 20% in other spheres. Net taxes on products and imports amounted to 10.1% of GDP.

The GDP per capita amounted to 3,748.1 manats ($2,203.55).