Azerbaijan's GDP grows 4.1% in 2024 - State Statistics Committee

BAKU. Jan 16 (Interfax) - Azerbaijan's nominal GDP totaled 126.3 billion manat in 2024, and real economic growth is estimated at 4.1%, the State Statistics Committee told Interfax.

The oil and gas sector rose 0.3% and the non-oil and gas sector grew 6.2%, the State Statistics Committee said.

The structure of GDP comprised industry at 35.9%; trade in vehicles and repairs at 10.7%; transport and warehousing at 7%; construction at 6.7%; agriculture, forestry, and fisheries at 5.7%; information and communications at 1.9%; tourist accommodation and catering facilities at 2.4%; and other sectors at 19.9%. The share of taxes in GDP was 9.8%.

GDP per capita was 12,383 manat in 2024.

The Ministry of Economy had projected GDP to grow 4.2% in 2024. Azerbaijan's GDP rose 1.1% in 2023.

The official exchange rate as on January 16, 2025, is 1.7 manat/$1.