BAKU, Azerbaijan, October 13. The International Monetary Fund (IMF) expects Azerbaijan’s GDP to grow by 2.3% in 2027, as compared to 1.7% growth in 2026, according to its World Economic Outlook.
In the April WEO, the financial institution expected Azerbaijan’s GDP to grow by 2.2% in 2026 and 2.5% in 2027.
Meanwhile, the IMF estimates that the country’s GDP growth stood at 1.4% in 2025.
According to the Central Bank of Azerbaijan’s macroeconomic forecast published in May, the country’s real GDP is expected to grow 1.1% in 2026, while the non-oil and gas sector is forecast to expand by 3.2%.
The Central Bank expects the oil and gas sector to remain a drag on overall growth in 2026, with non-oil industries serving as the main driver of economic activity. Household consumption, net exports of goods and services, and gross fixed capital formation are expected to be the main contributors to non-oil growth.
The Central Bank forecasts economic growth to accelerate to 3.2% in 2027, with the non-oil and gas sector expanding by 4.7%.
The oil and gas sector is projected to contract by 3.3% in 2026 and record no growth in 2027. “Thus, practically all of the economic growth will be generated by the non-oil sector,” the Central Bank said.
The 2026-27 growth outlook will depend largely on developments in domestic and external aggregate demand, says the Central Bank of Azerbaijan.
