BAKU, Azerbaijan, November 7. Analysts of the Dutch ING Group predict the growth of Azerbaijan's GDP in 2023 at a level of 1.2 percent, Trend reports.
ING forecasts Azerbaijan's GDP growth to be 2.5 percent in 2024. For 2025, the company forecasts Azerbaijan's GDP growth at 2.5 percent.
Thus, according to ING's forecast, the average annual growth of the Azerbaijani economy will be 2.13 percent in 2023–2025.
Azerbaijan's GDP grew by 4.6 percent and amounted to 133.8 billion manat ($78.7 billion) in 2022. Non-oil and gas GDP grew by 9.1 percent to 69.8 billion manat ($41 billion). The share of industry in the GDP structure was 51.1 percent.
Trade and repair of vehicles accounted for 8.2 percent, 6 percent for transport and warehousing, 4.8 percent for agriculture, forestry, and fish farming, 4.8 percent for construction, 1.6 percent for the tourism sector, and 1.4 percent for information and communications.
As much as 14.7 percent of GDP was accounted for by other sectors of the economy.
GDP per capita amounted to 13,292 manat ($7,818) in Azerbaijan in 2022.
ING Group is a Dutch multinational corporation providing banking and financial services, headquartered in Amsterdam.
Its main activities are retail, direct, commercial, investment, wholesale, and private banking services, asset management, and insurance services.