Azerbaijan GDP Growth Hits 1.5% in Nine Months
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Azerbaijan’s GDP grows 1.5% in first nine months
Finance & Banking

Azerbaijan’s GDP grows 1.5% in first nine months

Azerbaijan produced 102.0482 billion manats worth of gross domestic product in January-September, the State Statistics Committee reported, up 1.5% from the same period last year.

The non-oil and gas sector drove most of the growth in Azerbaijan’s economy over the period, according to the State Statistics Committee. Non-oil and gas GDP rose 2.6% year-on-year to 71.7217 billion manats, while oil and gas GDP fell 1.2% to 30.3265 billion manats.

Total industrial output declined 0.8% year-on-year to 51.1781 billion manats over the nine months. Non-oil and gas industrial production, however, climbed 5.4% to 16.558 billion manats.

Agricultural output rose 1.1% to 11.9053 billion manats. Transport and warehousing services grew 10% to 12.8166 billion manats, while information and communication services increased 11.1% to 3.2571 billion manats.

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