Azerbaijan's GDP for the first 9 months of the year amounted to 39.8 billion manat (+1.1% compared to the same period last year). According to official statistics, the GDP per capita is AZN 4,340.2 ($ 5,522.6).
More than two thirds (67.2%) of the gross domestic product accounts for the production, including 51.3% of this amount in industry, 26.6% - in services, 9.8% - in construction, and 6.1% - in agriculture, forestry and fisheries.
The added value of non-oil sector in comparison to the same period last year increased 10.3%, ensuring the growth of its share in the GDP to 50.3%. In building the real expression of value added was 27.3%, in communication services and information technology - 16.7%, in tourism and catering - 16.3%, in trade and repair of transport - 9%, in agriculture, forestry and fisheries - 6.3%, in transport and barn farming - 2.1%. - 17D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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