Non-observed economy accounts for 7.7% of Azerbaijan's GDP, official says

Azerbaijan's non-observed economy makes up 7.7% of its gross domestic product, with the shadow economy representing 1.8%, according to Rauf Salimov, Deputy Chairman of the State Statistics Committee, quoted by Report.

Speaking at an international conference on combating money laundering and terrorism financing, Salimov highlighted that roughly 3.2 billion manats ($1.9 billion) in goods and services evade official statistics, while 2.2 billion manats of value-added remains unregistered.

He noted that about 35% of Azerbaijan's GDP stems from the oil and gas sector, where economic activity is transparent and fully recorded. As a result, the non-observed economy is largely concentrated in the non-oil sector.