World Bank Reveals Forecasts For Azerbaijan's GDP Growth By 2028

In June 2025 edition of Global Economic Prospects, the World Bank has lowered its forecasts for the country's GDP growth by 0.1 percentage points for 2025. As such, it will stand at 2.6 percent. This is while the projections for 2026 have remained unchanged at 2.4 percent.

"Growth in Azerbaijan is expected to be affected by declining oil production alongside weakening global demand and lower oil prices," said the Bank.

The WB estimates the country's GDP growth in 2022, 2023 and 2024 at 4.6 percent, 1.1 percent and 4.1 percent, respectively.

The report released by the State Statistics Committee reveals that Azerbaijan GDPworth 39.3 billion manat ($23.1 billion) from January through April 2025, which is 0.9 percent more compared to the same period last year.

The value added in the oil and gas sector decreased by 3.5 percent, while the non-oil and gas sector grew by 3.3 percent.

GDP distribution by sectors is as follows: 37.3 percent in industry, 9.9 percent in trade and vehicle repair, 7 percent in transportation and storage, 5.9 percent in construction, 3.3 percent in agriculture, forestry, and fishing, 2.8 percent in accommodation and food services, and 1.8 percent in information and communication. The remaining 21.7 percent came from other sectors. Net taxes on products and imports accounted for 10.3 percent of GDP.

GDP per capita amounted to 3,842 manat ($2,259).

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