Azerbaijan's economy grows by 5%

In January-February 2024, Azerbaijan produced a GDP of 18.58 billion manats ($10.91 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 0.7%, and in the non-oil and gas sector, it increased by 10.1%.

According to the data, 39.9% of GDP production was formed in industry, 9.9% in trade; repair of vehicles, 7% in transport and warehousing, 5.5% in construction, 2.7% in agriculture, forestry, and fishing, 2.2% in tourist accommodation and catering, 1.7% in information and communications, and 19.8% in other spheres. Net taxes on products and imports amounted to 11.3% of GDP.

The GDP per capita amounted to 1,824.1 manats ($1,071.78).