BAKU, Azerbaijan, June 13. Azerbaijan's GDP grew by 4.2 percent from January through May 2024 compared to the same period in 2023, up to 48 billion manat ($28.2 billion), Trend reports.
According to the State Statistics Committee of Azerbaijan, during the reporting period of 2024, the added value in the non-oil sector grew by 7.3 percent, while in the oil and gas sector, it did not change compared to the same period in 2023.
There was a 39.7 percent contribution from the industrial sector to the overall structure of the GDP throughout the time period in question.
The data of the State Statistics Committee indicates that in the GDP structure, 9.6 percent came from trade and repair of vehicles, 7 percent from transportation and warehousing, 6 percent from construction, 3.8 percent from agriculture, forestry, and fish farming, 2.4 percent from the tourism sector, and 1.8 percent from information and communication. A total of 20.1 percent of GDP came from other sectors of the economy.
However, net import tax revenues amounted to 9.6 percent of GDP during the mentioned period.
Furthermore, GDP per capita in Azerbaijan amounted to 4,713 manat ($2,771) in the reporting period of 2024.
To note, Azerbaijan's GDP in 2023 increased by 1.1 percent compared to 2022, up to 123 billion manat ($72.3).
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