Azerbaijani Ministry Of Economy Publishes Growth Figures In Numerous Sectors


(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 13. Azerbaijan's GDP grew by five percent and the non-oil GDP by 12.3 percent in January 2024, Trend reports.

The data of the Azerbaijani Ministry of Economy showed that in the reporting month, value-added tax in the construction sector grew by 66.9 percent, transportation and warehousing by 26.8 percent, the non-oil gas processing industry by 16.8 percent, tourism and catering by 12.1 percent, and the information and communication sector by 11.8 percent.

The economy of Azerbaijan registered a high level of investment activity, the ministry noted.

“In January 2024, investment in fixed capital rose by 37.4 percent compared to the same period last year. The non-oil and gas sector saw growth of 34.1 percent, which is a significant factor propelling economic growth,” added the ministry.

Azerbaijan's GDP amounted to 9.1 billion manat ($5.3 billion) in January this year and 123 billion manat ($72.35 billion) in 2023, which is a growth of 1.1 percent.

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