GDP production in Azerbaijan nears $60B

In January–October 2023, Azerbaijan produced a gross domestic product worth 100.9 billion manats ($58.77 billion), 0.5% more than in the same period last year, Report informs, citing the State Statistical Committee.

Over the past year, value added decreased by 2.3% in the oil and gas sector of the economy, while it increased by 3.1% in the non-oil and gas sector.

The committee noted that 41.3% of GDP production was formed in industry, 9.9% in trade and vehicle repair, 6.2% in transport and warehousing, 6.2% in agriculture, forestry, and fishing, 5% in construction, 2.3% in tourist accommodation and public catering, 1.7% in information and communication sectors, and 18% in other sectors. Net taxes on products and imports made up 9.4% of GDP.

Over the past year, GDP per capita in the country was 9,938 manats ($5,840).