For seven months of this year, Azerbaijan's economy grew by 2.4%. During this period, GDP was produced in the amount of 34 billion AZN, the State Statistics Committee said.
The share of the oil sector, where the value added decreased by 3.1%, in the GDP amounted to 14 billion 680 million AZN. The non-oil GDP grew by 6.8%. For seven months the share of non-oil sector in GDP reached 56.8%.
GDP growth in the manufacturing sector remained unchanged, while the service sector growth was recorded at the level of 7%, and net of taxes - 3.9%.
GDP per capita since the beginning of the year amounted to 3 621.3 AZN or $ 4 617.3. --08D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Subsea7, a global leader in offshore engineering and construction, are exploring further collaboration on new projects in the Azerbaijani sector of the Caspian Sea. During a meeting between SOCAR President Rovshan Najaf and Subsea7 CEO John Evans, the two sides discussed the potential for Subsea7’s technological innovations to play a role in upcoming ventures. They also considered other areas of mutual interest for both companies.
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According to the State Customs Committee and the State Statistics Committee, Azerbaijan saw a significant increase in meat imports during the first nine months of 2024, amid more modest growth in domestic production.
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The event "Sustainable Transport of the Future" is being held in Baku on Wednesday, organized with the support of Azerbaijan Railways CJSC, aimed at promoting the concepts of sustainable transport that minimizes environmental impact. The event highlights environmentally friendly transportation options, such as walking, cycling, green public transport systems, and eco-friendly vehicles, all contributing to the reduction of greenhouse gas emissions.
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On October 23, 2024, the 3rd Conference of Energy Ministers within the framework of the "One Belt, One Road" (OBOR) initiative opened in Qingdao, China. Energy ministers from around the world gathered to discuss critical issues related to global energy security, the transition to clean energy, and innovations in the sector.
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