Azerbaijan's economy grows by almost 5%

From January through November 2022, Azerbaijan produced a gross domestic product worth 121.4 billion manats ($71.32 billion), or 4.8% more than in the same period last year, Report informs, citing the country’s State Statistics Committee.

Over the past year, value added in the oil and gas sector of the economy decreased by 2.4%, while in the non-oil and gas sector, it increased by 9.2%.

According to the committee, industry accounts for 52.7% of GDP production; on trade, repair of vehicles for 8%, on transport and logistics for 5.9%, on agriculture, forestry and fisheries for 5%, construction for 3.8%, tourist accommodation and catering for 1.5%, information and communications for 1.3%, other industries for 14.3%. Net taxes on products and imports amounted to 7.5% of GDP.

Over the past year, GDP per capita in the country grew by 49.8% and amounted to 12,064 manats ($7,086).