Azerbaijan's Nominal GDP for 2024 Reaches $74.3 Billion, Real Growth at 4.1%
On 16th January the State Statistics Committee reported that Azerbaijan's nominal GDP for 2024 will reach 126.3 billion manats ($74.294 billion), with real economic growth of 4.1%.
The oil and gas sector grew by 0.3%, while the non-oil and gas sector grew by 6.2%. In the structure of GDP, industry accounted for 35.9%, trade and repair for 10.7%, transport and storage for 7%, construction for 6.7%, agriculture, forestry and fishing for 5.7%, hotels and restaurants for 2.4%, information and communication for 1.9% and other sectors for 19.9%. Taxes contributed 9.8% to GDP.
In 2024, GDP per capita was 12 382.5 manats ($7 283). For comparison, Azerbaijan's GDP growth in 2023 was 1.1%.
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