BAKU, Azerbaijan, August 13. Azerbaijan's GDP grew by 4.5 percent from January through July 2024 compared to the same period in 2023, reaching 70.544 billion manat, or $41.49 billion, Trend reports.
According to the State Statistics Committee of Azerbaijan, value added in the non-oil sector increased by 6.7 percent, while the oil and gas sector saw a growth of 1.2 percent compared to the same period in 2023.
Industry comprised 38.4 percent of GDP for the reporting period.
The breakdown of GDP contributions includes 9.6 percent from trade and vehicle repair, seven percent from transportation and warehousing, 5.7 percent from construction, six percent from agriculture, forestry, and fish farming, 2.4 percent from the tourism sector, and 1.8 percent from information and communication. Other sectors contributed 19.1 percent of GDP.
Net import tax revenues constituted 10 percent of GDP during this period.
In the reporting period of 2024, GDP per capita in Azerbaijan was 6,291 manat, or $3,700.
To note, Azerbaijan's GDP in 2023 increased by 1.1 percent from 2022, reaching 123 billion manat, or $72.35 billion.