Bank Of Baku

Azerbaijan's Minister of Economy: Oil and gas sector's share in GDP fell to 30.6%

Mikayil Jabbarov,  Minister of Economy

© APA | Mikayil Jabbarov, Minister of Economy

# 13 February 2025 11:32 (UTC +04:00)

As a result of the reforms and "whitening" measures, the growth rate of GDP has continued due to the increase in the non-oil sector amid the decrease in oil production compared to 2018 (from 38.8 million tons to 29.1 million tons), said the Minister of Economy Mikayil Jabbarov at the "Tax Service - 25: Sustainable Development and Effective Transformation" Forum held today APA-Economics reports.

He noted that compared to 2018, the share of the oil and gas sector in GDP has decreased from 40.2% to 30.6% in 2024.

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