Azerbaijan’s economy more than triples in last 18 years – deputy minister

Azerbaijan’s economy grew by 3.4 times from 2004 to 2021, the country’s deputy minister of economy said on Thursday.

Deputy Minister of Economy Elnur Aliyev made the remarks while speaking at the Azerbaijan Investment and Young Entrepreneurship Forum co-organized by the Islamic Cooperation Youth Forum (ICYF) and the Small and Medium Business Development Agency (KOBIA) in Baku, News.Az reports.

“During these years, industrial production increased by 3.7 times, agricultural production rose by two times, exports grew by 9.2 times, including non-oil exports by 7.3 times,” he said.

The deputy minister noted that Azerbaijan’s exchange reserves grew by over 33 times and foreign trade turnover increased by 6.8 times during the reporting period.  


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