Baku, Azerbaijan, Oct. 19
By Azad Hasanli – Trend:
The production of agricultural products will rise by 2.7 percent in Azerbaijan in 2017, according to the “Europe and Central Asia Economic Update” of the World Bank (WB).
According to the report, Azerbaijan’s agricultural sector will further grow in the next two years. The WB expects that production will increase by 2.8 percent both in 2018 and 2019.
The report says that thanks to the confident growth in agricultural and production sectors of Azerbaijan in 1H17, the non-oil economy expanded by 1.7 percent and non-oil exports increased by 11 percent.
Meanwhile, the WB forecasts a decrease of 2.7 percent in the industrial sector in 2017 and a decrease of 0.1 percent – in 2018.
According to WB analysts, industry will resume growth in Azerbaijan – 0.7 percent – in 2019.
The services sector, on the contrary, expects a gradual growth in the next three years, from 0.7 percent in 2017 to 2.8 percent in 2019.
Azerbaijan joined the WB Group in 1992.