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Azerbaijan unveils GDP growth rate following 2022 results

Economy Materials 17 January 2023 15:16 (UTC +04:00)
Azerbaijan unveils GDP growth rate following 2022 results
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 17. Azerbaijan's GDP amounted up to 133.8 billion manat ($78.59 billion) in 2022, increasing by 4.6 percent compared to the same period of 2021, Trend reports citing the country's State Statistical Committee.

Meanwhile, the value added in the oil and gas sector grew by 9.1 percent, while the added value cost in the non-oil sector decreased by 2.1 percent year on year.

In the reporting period, GDP per capita settled at 13,292 manat ($7,809), whereas industry accounted for 51.1 percent of GDP in Azerbaijan.

According to the agency, 8.2 percent of GDP fell on trade and repair of vehicles, six percent – on transport and storage, 4.8 percent – on agriculture, forestry, and fish farming, 4.8 percent – on construction, 1.6 percent – on tourism sector, as well as 1.4 percent – on information and communication. A total of 14.7 percent accounted for other economic sectors.

Net import tax revenues during this period made up 7.4 percent of GDP.

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