Azerbaijan sees growth in economy of Nakhchivan Autonomous Republic

The total GDP generation in the Nakhchivan Autonomous Republic of Azerbaijan was around 535.5 million manats (about $314.9 million) for the initial five months of 2024, marking a 2.2-percent increase year-on-year, Report informs, citing the State Statistical Committee of the autonomous republic.

Over the course of five months, the GDP generation per person rose by 1.6% and stood at roughly 1,142 manats (about $671.65).

Moreover, the autonomous republic manufactured industrial products valued at nearly 212.24 million manats (about $124.8 million) in January-May 2024, representing an increase of 7.2 percent from the same period last year.

Of the total industrial production for the reporting period, 89.1% fell to goods, and 10.9% to services.