Azerbaijan’s GDP reaches nearly $30 billion as of late May

The gross domestic product (GDP) of Azerbaijan reached 48.26 billion manats ($28.4 billion) from January through May 2024, which is 4.2 per cent more than in the same period of 2023.

The value added in the non-oil and gas sector of the economy increased by 7.3 per cent but remained at the same level in the oil and gas sector, Caliber.Az reports, citing the Azerbaijani State Statistics Committee.

Around 39.7 per cent of GDP accounts for industry, 9.6 per cent - trade; repair of vehicles, 7 per cent - transport and warehousing, 6 per cent - construction, 3.8 per cent - agriculture, forestry and fishing, 2.4 per cent - tourist accommodation and catering, 1.8 per cent - information and communications.

Some 20.1 per cent of GDP accounted for other sectors while 9.6 per cent - for net taxes on products and imports.

GDP per capita amounted to 4,713.3 manats ($2,772.5).

Kheyraddin Nasirzada