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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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