BAKU, Azerbaijan, June 12. The actual GDP development
in Azerbaijan in 2024 is predicted to face at 2.3 %, earlier than
rising to 2.4 % in 2025, Development stories close to the
June 2024 version of the World Financial institution’s World Financial
Prospects.
That is whereas in January 2024 report Azerbaijan’s actual GDP
development was anticipated at 2.4 % and a couple of.5 % for 2024 and
2025, respectively.
The World Financial institution expects this determine to remained unchanged at 2.4
% for 2026 as effectively.
Total, in South Caucasus, development is projected to stabilize at
about 3.5 % yearly over 2024–26. Azerbaijan is predicted to
decide up supported by some restoration in hydrocarbon exports, which
have been notably low in 2023. This rebound is predicted to be
counterbalanced by the easing of development in Armenia and Georgia from
exceptionally excessive ranges in recent times.
The information from the State Statistics Committee of Azerbaijan reveals
that GDP grew by 4.3 % from January via April 2024, 12 months
on 12 months, to 38 billion manat ($22 billion).
Within the reporting interval, worth added within the non-oil sector grew
by 7.7 % and within the oil and gasoline sector by 0.1 %
in comparison with the primary 4 months of 2023.
In the meantime, the share of business within the GDP construction amounted
to 40.3 %.
Within the GDP construction, 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 % from the tourism sector, and 1.7 % from
data and communication.
Different sectors of the economic system accounted for 20.4 % of
GDP.
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