Economic growth makes up 0.8% – State Statistics Committee of Azerbaijan

Azerbaijan produced AZN80 billion ($47.1 billion) worth of Gross Domestic Product in the first eight months of this year, 0.8% more in comparable prices than in the corresponding period of 2022, the State Statistics Committee reports. GDP output in the oil and gas sector is still not recovered and has a 1.1% lag compared to the comparable period of 2022. The 2.6 per cent GDP growth in the non-oil and gas sector is also hard to call encouraging, as the government forecasts annual growth of 4.9 per cent. The industry accounts for 42.4 per cent of GDP. The remaining 57.6% of GDP was shared by trade – 9.5%, transport and logistics – 6.2%, agriculture – 6.1%, construction – 4.8%, tourism and catering – 2.4%, ICT – 1.6%, net taxes on goods and imports – 9.4%, etc. Note that in the first half of the year, GDP per capita was 7,895 manats or $4,644. The Azerbaijani government forecasts 1.8 per cent real GDP growth in 2023

Source: Turan News Agency