Azerbaijan's GDP Grows by 4.3% in First Half of 2024
On July 10, the State Statistics Committee of the Transcaucasian Republic reported that Azerbaijan's GDP increased by 4.3% year-on-year in January-June 2024, reaching AZN 59 billion 520.4 million (about $35 billion).
During this period, the added value of production in Azerbaijan's oil and gas sector increased by 0.6%, while the non-oil sector saw a rise of 6.9%. Industry accounted for 38.5% of the GDP of the largest economy in the South Caucasus, with trade contributing 9.7%, transportation and warehousing 7.0%, construction 5.8%, and agriculture, forestry, and fishery also 5.8%. Additionally, tourist accommodation and catering comprised 2.4%, information and communication 1.7%, and other spheres 19.5%.
Azerbaijan's GDP per capita amounted to 5840.7 manat ($3436).
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