2024-06-20 00:47:19
Actual GDP progress in Azerbaijan is anticipated to be 2.3 % in 2024, after which enhance to 2.4 % in 2025, Day.Az reported on Wednesday, citing the June launch of the World Financial institution’s International Financial Prospects report.
It’s value noting that within the January report, actual GDP progress in Azerbaijan was anticipated at 2.4 % and a pair of.5 % in 2024 and 2025, respectively.
The World Financial institution expects this determine to stay unchanged at 2.4 % in 2026.
Total, progress within the South Caucasus is projected to stabilize at round 3.5 % per 12 months over 2024-2026. Azerbaijan is anticipated to rebound in progress as a result of some restoration in hydrocarbon exports, which fell considerably in 2023. On the identical time, a slowdown in financial progress is predicted in Armenia and Georgia.
It needs to be famous that in accordance with the State Statistics Committee of Azerbaijan, the nation’s GDP in January-April 2024 elevated by 4.3 % in comparison with the identical interval in 2023 – to 38.181 billion manat.
Within the reporting interval of 2024, worth added within the non-oil sector elevated by 7.7 %, and within the oil and fuel sector by 0.1 % in comparison with the identical interval in 2023.
Within the construction of GDP, the share of business throughout this era was 40.3 %.
Based on the State Statistics Committee, within the construction of GDP, 9.5 % got here from commerce and restore of autos, 6.9 % from transport and warehousing, six % from development, 3.1 % from agriculture, forestry and fish farming, 2 .4 % – for the tourism sector, 1.7 % – for the sphere of data and communications. 20 % of GDP got here from different sectors of the economic system.
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