Azerbaijan's economy grows slightly

In January-May 2023, Azerbaijan produced a GDP worth 60.3 billion manats ($35.4 billion), 0.5% more year-on-year, Report informs, citing the country’s State Statistical Committee

Over the past year, value added in the oil and gas sector of the economy decreased by 2.1%, while in the non-oil-gas sector, it increased by 3.1%.

According to the committee, 43.7% of GDP production was formed in industry, 9.2% - in trade; repair of vehicles, 5.9% - in transport and storage, 4.7% - in construction, 5.6% - in agriculture, forestry and fisheries, 2.3% - in tourist accommodation and catering, 1.6% - on the information and communication, and 17.7% - on various other spheres. Net taxes on products and imports amounted to 9.3% of GDP.

During the past year, the GDP per capita in the country decreased by 0.1% and amounted to 5,947 manats ($3,494).