Azerbaijan`s economy registers 1.1% growth in 2023

16.01.2024 [18:51]
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Baku, January 16, AZERTAC

Azerbaijan`s economy demonstrated a 1.1 percent increase in 2023, with the gross domestic product reaching 123 billion manats. This marks a 1.1 percent growth compared to the corresponding period of the previous year.

According to the Azerbaijan State Statistical Committee, the added value in the oil and gas sector decreased by 1.7 percent, while it increased by 3.7 percent in the non-oil and gas sector. Various sectors contributed to the GDP, with 40.5 percent from industry, 10 percent from trade; vehicle repair, 6.2 percent from transport and warehousing, 6.2 percent from construction, 5.5 percent from agriculture, forestry and fishing, 2.2 percent from tourist accommodation and public catering, 1.7 percent from information and communication fields, and 18.6 percent from other fields. Net taxes on products and imports constituted 9.2% of the GDP.

The GDP per capita stood at 12,114.5 manats.

Azerbaijan`s economy registers 1.1% growth in 2023

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