ADB says Azerbaijan's GDP per capita to grow by 2.5%

The Asian Development Bank (ADB) has predicted that the value of the gross domestic product (GDP) per capita in Azerbaijan will grow by 2.5 per cent in 2023 compared to 2022.

The bank expects GDP growth per capita to reach 2.8 per cent in Azerbaijan in 2024, Report informs citing the ADB Asian Development Outlook in April 2023.

ADB forecasts that GDP per capita for the Caucasus and Central Asia as a whole will grow by 3 per cent in 2023 and 3.2 per cent in 2024.

According to the Azerbaijani State Statistics Committee, GDP per capita in Azerbaijan increased by 43.4 per cent and amounted to 13.292 manats ($7.818) in 2022.

Azerbaijan produced a GDP worth 133.8 billion manats ($78.7 billion) in 2022, or 4.6 per cent more than in 2021.