BAKU, Azerbaijan, January 4. According to the latest report of the Center for Economics and Business Research (CEBR), Azerbaijan’s GDP is expected to reach $93 billion by 2029, with further growth anticipated in the years ahead, Trend reports.
The World Economic League Table (WELT 2025), published by the CEBR, predicts that Azerbaijan’s GDP will increase to $116 billion by 2034 and $143 billion by 2039.
"The average annual GDP growth rate over the next five years is expected to be 2.4 percent, a pace that will likely continue over the following decade," the report notes.
As for Azerbaijan's near-term outlook, the CEBR’s earlier forecast for 2025 anticipates a GDP of $78 billion in current prices.
Notably, Azerbaijan's Ministry of Finance forecasts the country's GDP to reach 129.2 billion manat ($75.9 billion) this year.
According to the forecasts of the Central Bank of Azerbaijan, the real economic growth rate in 2025 will be 3.3 percent, including 5.1 percent in the non-oil sector. ING forecasts growth in 2025 at 2.6 percent, the European Bank for Reconstruction and Development at 2.7 percent, and the Asian Development Bank at 2.6 percent.