Investment in Azerbaijan’s information and communications technology sector rose 57.3% year-on-year to 376.5 million manats in January-September, the Ministry of Digital Development and Transport reported. Sector revenues over the same period climbed 11.1% to 3.26 billion manats.
According to the Ministry of Digital Development and Transport, the growth in ICT investment accounted for 2% of Azerbaijan’s gross domestic product (GDP) and 2.9% of non-oil-gas GDP. The ministry said the funds are driving the creation of new services and raising quality standards across the sector.
Transport and warehousing sector also posts gains
In the same nine-month period, value added generated by the transport and warehousing sector rose to 7.596 billion manats. This pushed the sector’s share of GDP to 7.4% and its share of non-oil-gas GDP to 10.6%.
The total value of services provided in the transport and warehousing sector grew 10% in real terms to 12.82 billion manats. Investment in the sector reached 3.21 billion manats, marking a 9.7% real-term increase compared with the same period last year.
The ministry said new projects, the adoption of modern technologies and the expansion of services in both sectors will support faster growth going forward. It also noted that Azerbaijan’s geographic location continues to strengthen the country’s role in international transit corridors.
