IMF: Azerbaijan's nominal GDP to exceed $100B for first time by 2031

According to the International Monetary Fund (IMF) forecasts, by the end of 2030, Azerbaijan's nominal GDP with a real growth of 2.5% will amount to $100.895 billion, Report informs referring to the IMF.

In 2025, Azerbaijan's nominal GDP with a real growth of 3.5% is expected to be at the level of $78.87 billion. The country's nominal GDP in 2026 is projected to be $81.872 billion with a real growth of 2.5%, in 2027 - $85.792 billion with a real growth of 2.4%, in 2028 - $90.327 billion with a real growth of 2.4%, and in 2029 - $95.373 billion with a real growth of 2.5%.

Nominal non-oil GDP in 2025 is expected to be $55.6 billion (annual growth of 10.46%), in 2026 - $60.3 billion (+8.37%), in 2027 - $64.9 billion (+7.64%), in 2028 - $69.8 billion (+7.6%), in 2029 - $75.2 billion (+7.64%), and in 2030 - $80.9 billion (+7.64%)

The Azerbaijani government forecasts GDP at $75.9 billion (+3.7%) this year.

In 2024, Azerbaijan's economy grew by 4.1%, amounting to $74.2 billion. At the same time, non-oil and gas GDP growth was 6.2%. However, in January-March 2025, the economic growth rate slowed to 0.3%.