Azerbaijan's economy grows by 1.3% in 10 months

The nominal volume of the gross domestic product (GDP) produced in Azerbaijan in–October of the current year amounted to 106.4354 billion manats, increasing by 1.3% in real terms compared to the indicator for the same period in 2024.

Report informs, citing the State Statistical Committee, that during the indicated period, the oil and gas sector of the economy saw a decline of 2.1%, while the non-oil-and-gas sector grew by 3.1%.

In the structure of GDP, industry accounted for 34%, trade and repair of motor vehicles - 10.5%, transportation and storage - 7.1%, agriculture, forestry and fisheries - 6.7%, and construction - 6.5%. The share of tourism and food service enterprises was 2.7%, the information and communications sector - 1.9%, while other sectors of the economy accounted for 20.9%. The tax share in GDP amounted to 9.7%.

GDP per capita amounted to 10,393 manats over the 10-month period.

It should be noted that the Ministry of Economy forecasts GDP growth in Azerbaijan at the level of 3% in 2025, with the nominal volume projected at 129.9 billion manats.

In 2024, Azerbaijan"s economy grew by 4.1%.