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Azerbaijan's GDP rises 4.3 percent to 38.2 billion manats

18 May 2024 10:00 (UTC+04:00)
Azerbaijan's GDP rises 4.3 percent to 38.2 billion manats
Nazrin Abdul
Nazrin Abdul
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Azerbaijan's total domestic product reached 38.1819 billion manats from January to April this year, marking a 4.3 percent increase compared to the same period last year, Azernews reports, citing the Azerbaijan State Statistics Committee.

According to the State Statistics Committee, the added value in the oil and gas sector saw a slight decline of 0.1 percent. In contrast, the non-oil and gas sector experienced a robust growth of 7.7 percent.

The GDP breakdown is as follows:

Industry: 40.3 percent
Trade and vehicle repair: 9.5 percent
Transport and warehousing: 6.9 percent
Construction: 6.0 percent
Agriculture, forestry, and fishing: 3.1 percent
Tourist accommodation and public catering: 2.4 percent
Information and communication: 1.7 percent
Other sectors: 20.0 percent
Net taxes on products and imports: 10.1 percent

This growth reflects a dynamic economic environment, with significant contributions from various non-oil sectors.

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