Azerbaijan's economy grows by over 5%

Azerbaijan's gross domestic product (GDP) reached 111 billion manats ($65.29 billion) in January-October 2022, which was 5.2% more year-on-year, Report informs, citing the country's State Statistics Committee.

According to the committee, over the past year, the added value decreased by 2.4% in the oil and gas sector of the economy, and increased by 9.7% in the non-oil and gas sector.

The committee noted that 52.9% of GDP production came from industry, 7.9% trade; vehicle repair, 5.9% transport and warehousing, 5.1% agriculture, forestry and fishing, 3.9% construction, 1.5% tourist accommodation and public catering, 1 .3% information and communication sectors, 14% by other sectors, and net taxes on products and imports made up 7.5% of GDP

During the year, the GDP per capita in the country increased by 54.35% and reached 11,033 manats ($6,490).