The Gross Domestic Product of Azerbaijan for 10 months of this year amounted to 47.6 billion manat, which is 5.7 % more than in the same period of 2012 . Growth was driven mainly by the services sector. In September, the index growth rate was 5.4%.
The State Statistics Committee told Turan, that the non-oil sector growth was recorded at 9.8 %, while in the oil - 1%.
In January - October 2013, the share of industry in GDP was 46.3 %. The share of the construction sector in GDP by investing primarily in public investment in the economy, reached 12.1%. In this case, the value added in the construction for the period increased by 25.2 %. The share of tourist accommodation and catering was 2.1% of GDP. In this case, the real growth in this sector for 10 months was 17.9 %.
Cumulative production sector participation in the GDP was 64.1 %, services - 29.6 % and net of tax - 6.3%. - 08D-
Economics
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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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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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