Baku: Azerbaijan’s economy witnessed a growth of 5% in the first ten months of 2024, with the country producing AZN 103 billion 495.8 million in Gross Domestic Product (GDP). This marks a 4.9% increase compared to the same period last year.

According to Azeri-Press News Agency, the State Statistics Committee highlighted that the value added in the oil and gas sector rose by 1.7%, while the non-oil and gas sector saw a more significant increase of 6.8%. The GDP composition featured 37.1% from industry, 10% from trade and vehicle repair, 7.0% from transportation and warehousing, and 6.3% from construction. Additionally, agriculture, forestry, and fishing contributed 6.2%, tourism and public catering 2.4%, information and communication 1.8%, and other sectors made up 19.2%. Net taxes on products and imports accounted for 10% of the GDP.

The GDP per capita in Azerbaijan was reported at AZN 10,146.5, reflecting the overall economic growth during the specified period.