Azerbaijan records GDP growth in January-May 2024

In the first five months of 2024, Azerbaijan’s gross domestic product (GDP) amounted to 48.2 billion manats ($28.4 billion), which is 4.2 per cent up compared to the same period of 2023, News.Az reports citing the State Statistical Committee.

The value added in the non-oil and gas sector of the economy grew by 7.3 per cent but remained at the same level in the oil and gas sector during the reporting period.

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).

News.Az