Azerbaijan saw 1.1% growth in economic growth in 2023

Azerbaijan saw 1.1% growth in economic growth in 2023
# 16 January 2024 13:04 (UTC +04:00)

"In 2023, the Gross Domestic Product (GDP) produced in Azerbaijan amounted to AZN 123 billion. This is 1.1% more in comparison with the previous year," APA-Economics reports citing the State Statistics Committee of Azerbaijan.

It was noted that the value added in the oil and gas sector of the economy decreased by 1,7%, while it increased by 3,7% in the non-oil and gas sector.

40.5% of GDP production was industry, 10.0% trade; vehicle repair, 6.2% transport and warehousing, 6.2% construction, 5.5% agriculture, forestry and fishing, 2.2% tourist accommodation and public catering, 1.7% information and communication fields, 18.6% was other sectors, and net the taxes on products and imports made up 9.1% of GDP.

GDP per capita amounted to AZN 12,114.5.

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