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Azerbaijan's economy grows by about 1%

14.06.23 12:25
In January-May 2023, Azerbaijan produced a GDP worth 49.58 billion manats ($29.127 billion) - 0.7% more year-on-year, Report informs, citing the country’s State Statistics Committee

Over the past year, value added in the oil and gas sector of the economy decreased by 2.5%, while in the non-oil-gas sector, it increased by 4%.

According to the committee, 45.5% of GDP production falls on industry, 9.1% - on trade; repair of vehicles, 6.1% - on transport and storage, 4.5% - on construction, 3.6% - on agriculture, forestry and fisheries, 2.2% - on tourist accommodation and catering, 1 .6% - on the information and communication, and 17.9% - on various other spheres. Net taxes on products and imports amounted to 9.5% of GDP.

During the past year, the value of GDP per capita in the country decreased by 3.4% and amounted to 4,891 manats ($2,873).