Azerbaijan's economy grows by 5%

In January 2024, Azerbaijan produced a GDP of 9.131 billion manats ($5.36 billion), up 5% 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 2.6%, and in the non-oil and gas sector, it increased by 12.3%.

According to the data, 41.9% of GDP production was formed in industry, 10.5% in trade; repair of vehicles, 7% in transport and warehousing, 5.8% in construction, 2.9% in agriculture, forestry, and fishing, 1.8% in information and communications, 1.7% in tourist accommodation and catering, and 17.8% in other spheres. Net taxes on products and imports amounted to 10.6% of GDP.

The GDP per capita amounted to 897 manats ($527.07).