Azerbaijan among world leaders in GDP per capita
By Naila Huseynli
Azerbaijan is in the top 11 countries in terms of GDP growth per capita, according to McKinsey Global Institute’s report.
The list includes countries where annual GDP growth per capita over the past 20 years has exceeded five percent.
Report also says that real GDP growth per capita was 8.2 percent on average in Azerbaijan within the period from 1996 to 2016. In this regard, Azerbaijan ranks second among the countries following Myanmar (8.9 percent).
Together with Azerbaijan, the list included Belarus, Kazakhstan, Turkmenistan, Uzbekistan, India and other countries.
McKinsey Global Institute also analyzed the growth of GDP per capita over a 50-year period. This group included China, Hong Kong, Indonesia, Malaysia, Singapore, South Korea and Thailand.
Moreover, economies of 71 developing countries were monitored for the preparation of the report.
Azerbaijan’s GDP volume reached almost 50.5 billion manats ($29.7 billion) in January-August 2018 that is 0.7 percent more than in the same period of last year. The volume of GDP per capita stood at 5,153 manats ($3,031), according to a report of the State Statistics Committee.
National GDP this year is expected to reach 69.4 billion manats ($40.82 billion). At the same time, 47.6 billion manats ($28 billion) of the GDP will account for the non-oil sector, which will grow 2.9 percent next year. About 83 percent of Azerbaijan’s GDP will account for the private sector.
---
Follow us on Twitter @AzerNewsAz