Non-oil and gas sector to grow by 3 percent in Azerbaijan

  12 December 2023    Read: 1279
  Non-oil and gas sector to grow by 3 percent in Azerbaijan

Azerbaijan's economic growth is projected at 1.5% in 2023, MP and Chairman of the Committee on Economic policy of the Azerbaijan Parliamet Tahir Mirkishili said. 

"Besides, 2.5 % increase is expected in non-oil sector," he also added. 

Note that in January-October of this year, the GDP rate of Azerbaijan has become 100.9 billion manats, or 0.5% more than in the same period last year. Over the past year, added value in the oil and gas sector of the economy decreased by 2.3%, and in the non-oil and gas sector this rate increased by 3.1%.

The official added that the decline in economic growth in the country this year compared to last year, including in the oil and gas sector, is due to a decrease in oil production and oil prices.


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