Azerbaijan’s economy grows by 4.7% in first nine months of 2024
Azerbaijan's economy saw a growth of more than 4.7% in gross domestic product (GDP) during the first nine months of 2024, reaching a total of 92 billion 829.5 million manats compared to the same period last year.
The oil and gas sector experienced a modest increase of 0.9%, while the non-oil and gas sector grew by 7.1%, News.Az reports, citing the State Statistics Committee.Various sectors contributed to the GDP, with industry accounting for 37.1%, trade and vehicle repair for 9.6%, transport and warehousing for 7.0%, and agriculture, forestry, and fishing for 6.4%. Construction contributed 6.3%, while tourist accommodation and public catering made up 2.4%. Information and communication services represented 1.8%, and other sectors contributed 19.2%. Additionally, net taxes on products and imports accounted for 10.2% of the GDP.
The GDP per capita stood at 9,102.9 manats.
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