Non-oil sector grew by 3.6 percent last year - President Aliyev
The Davos Economic Forum ranked Azerbaijan 35th in terms of its competitiveness in 2017, and Azerbaijan retains its leadership in the CIS area in this regard, said President of Azerbaijan Ilham Aliyev.
The head of state pointed to an increase in Azerbaijan’s GDP, as well as in the non-oil sector in 2017.
“The non-oil sector grew by 3.6 percent while a 4.1 percent increase was recorded in the agricultural sphere last year. Azerbaijan’s currency reserves increased by $4.5 billion and reached $42 billion,” added President Aliyev.
The president also spoke about a number of important projects implemented last year.
He said that $14.6 billion was invested in Azerbaijan’s economy in 2017.
“Exports increased by 19 percent with a 24 percent growth in non-oil exports. Imports remained at a stable level, and this is a great achievement. Each country can be proud of such results,” said the president.
President Aliyev also noted that the development of districts has always been in the spotlight.
“Last year I visited more than 30 districts to check the fulfillment of the instructions given. Last year new enterprises were opened in the country’s districts and 221 thousands jobs were created, 177 thousand of which are permanent. In 2017 the unemployment rate in Azerbaijan was recorded 5 percent and the poverty rate amounted to 5 percent, which is one of the best results in the word,” he added.