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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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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In its latest Transition Report covering 2024–2025, the European Bank for Reconstruction and Development (EBRD) highly praised Azerbaijan's efforts in digital transformation and cybersecurity. The Bank noted that investments in digital networks have led to significant infrastructure improvements, including a one-third increase in internet speed over the past year.
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