Macroeconomic and financial stability was provided in Azerbaijan as a result of purposeful and large-scale socio-economic reforms and comprehensive measures carried out under the wise leadership of President Ilham Aliyev in the reporting period covering the year 2023, said Prime Minister Ali Asadov, who presented the report on the activities of the Cabinet of Ministers in 2023 at today's meeting of the Milli Majlis, APA reports.
The Prime Minister said that in the reporting year, Azerbaijan produced a gross domestic product (GDP) of 123 billion manats or 1.1% more than in 2022 in real terms: "GDP per capita increased by 0.5% to 12.1 thousand manats (7.1 thousand US dollars). While GDP production in 2023 decreased by 1.7% in the oil and gas sector in comparison with 2022, it increased by 3.7% in the non-oil and gas sector of the economy. The non-oil and gas industry grew by 8.0%. In 2023, the foreign trade turnover of Azerbaijan reached approximately 45 billion US dollars, and the positive trade balance was 10.3 billion dollars. Non-oil exports increased by 9.8% and exceeded 3.3 billion dollars."
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