Azerbaijan expects nominal GDP to surpass $50 billion

Azerbaijan’s nominal GDP is forecast to exceed $50 billion as of 2021, the country’s Minister of Economy Mikayil Jabbarov said on Tuesday.

He was speaking at the Azerbaijani-Turkish-Georgian business forum in Baku, News.Az reports.

Minister Jabbarov said that Azerbaijan has already ensured the achievement of the goals set within the economic development strategy for 2022-2026.

“Azerbaijan's GDP grew by 5.3 percent as of 11 months of 2021,” the minister added. “The volume in the non-oil sector grew by 6.4 percent.”

“The export volume of non-oil products grew by 44 percent in the reporting period,” said Jabbarov, predicting that the dynamics observed will continue until late 2021.


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