Azerbaijan’s economic growth tops 4% in H1 2024

Azerbaijan generated more than 59.52 billion manats (more than $35 billion) of GDP in the first six months of 2024, which is 4.3% up compared to the same period last year, News.Az reports citing the country’s Stat Statistical Committee.

Over the past year, the production of added value in Azerbaijan's non-oil and gas sector grew by 6.9% and rose by 0.6% in the oil and gas sector.

In Azerbaijan, industry comprises 38.5% of the total GDP, followed by trade and vehicle repair - 9.7%, transport and warehousing - 7%, and construction - 5.8%. Agriculture, forestry, and fishing contribute 5.8%, while tourist accommodation and catering account for 2.4%. Information and communication represent 1.7%, and other areas, along with net taxes on products and imports, constitute 19.5% and 9.6% respectively.

During the reporting period, the value of GDP per person was 5,841 manats (about $3,435).

News.Az