Azerbaijan reveals data on GDP growth in 2M2023

Economy Materials 18 March 2023 10:10
Trend News Agency
Azerbaijan reveals data on GDP growth in 2M2023

BAKU, Azerbaijan, March 18. Azerbaijan's GDP over the first two months of 2023 increased by 0.4 percent year-on-year - to 19.8 billion manat ($11.6 billion), Trend reports via the State Statistical Committee.

According to the data, in the reporting period of 2023, value added in the non-oil sector increased by 4.6 percent, while oil and gas sector saw a decrease of 3.6 percent year-on-year.

The share of industrial sector in the GDP in the reporting period amounted to 50.3 percent.

At the same time, 8.9 percent of the GDP accounted for trade and repair of vehicles, 5.3 percent for transport and warehousing, 2.5 percent for agriculture, forestry and fish farming, 3.8 percent for construction, 1.8 percent for the tourism sector, 1.5 percent for information and communications. 16.9 percent of GDP accounted for the share of other sectors of the economy.

Net income from the import tax from January through February 2023 amounted to 9 percent of GDP.

Meanwhile, in the reporting period, GDP per capita in Azerbaijan amounted to 1,955 manat ($1,150)

Azerbaijan's GDP in 2022 increased by 4.6 percent compared to 2021 - to 133.8 billion manat ($78.7 billion).