Azerbaijan's Economy Gains Foothold In 2M2026

RunWithRugs · 2026-03-16T10:53:24+00:00

Azerbaijan's GDP reached 18.47 billion manat ($10.9 billion) in early 2026, up 0.3% from last year. The oil and gas sector declined by 1.7%, while the non-oil sector grew by 1.4%, with industry contributing 32.7% to GDP.

RunWithRugs

2026-03-16 10:53:24

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(MENAFN- Trend News Agency) ** BAKU, Azerbaijan, March 15.** Azerbaijan produced 18.47 billion manat ($10.9 billion) in Gross Domestic Product (GDP) from January through February 2026, which is 0.3% more compared to the same period of the previous year, Trend reports via the State Statistical Committee.

The value addition in the oil and gas domain saw a decline of 1.7%, whereas the non-oil and gas sector experienced an uptick of 1.4%.

The composition of GDP production is delineated as follows: 32.7% attributed to industry, 11.4% to trade and vehicle repair, 7.5% to transport and warehousing, 3.9% to construction, 3.2% to agriculture, forestry, and fishing, 2.8% to accommodation and food services, 2.1% to information and communication sectors, and 24.1% to various other sectors.

Net taxation on goods and imports represented 12.3% of the gross domestic product.

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