The GDP of Azerbaijan in the first half of the year amounted to 27.2 billion manat (+5%, or 1.3 billion compared to the same period last year,) according to the State Statistics Committee. For every citizen of the country there is AZN 2,936.3 ($ 3,741).
About two-thirds (63.9%) of GDP was generated in the production, including 48.6% - in industry, 10.9% - in the construction industry, 4.4% - in agriculture. In the formation of value added value the density in the services sphere is 29.6%, including transport - 5.5%, trade and services - 9.6%, communication - 1.7%, social services - 12.8%. The share of the oil sector's contribution to value added decreased by 0.7%, but the share of non-oil sector increased by 10.9%. --17D-
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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