BAKU, Azerbaijan, December 28. The share of the private sector in Azerbaijan's gross domestic product (GDP) is 86.5 percent and its share in employment is over 78 percent, Deputy Economy Minister Sahib Mammadov said, Trend reports.
He spoke at the ceremony of awarding the 'Dayaq Prize' (award for business-related matters) to a number of business representatives.
According to him, 99.6 percent of business entities in Azerbaijan are SMEs.
"Value added in the non-oil and gas sector of the economy increased by 3.2 percent from January through November 2023. As a result of measures taken to diversify the economy and increase export potential, exports of the non-oil and gas sector increased by 10.5 percent year-on-year and reached $3 billion. Entrepreneurs, in turn, use the favorable opportunities created for them and work successfully," he said.
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