Details added (first version posted on 09:51)
Baku, Azerbaijan, Sept. 7
By Ilkin Shafiyev – Trend:
Investments in the Azerbaijani economy from all sources from 2003 to 2017 amounted to $236 billion, First Deputy Prime Minister of Azerbaijan Yagub Eyyubov said.
He made the remarks at the Azerbaijan Competitiveness Forum held Sept. 7.
Eyyubov noted that half of this amount accounted for foreign investments.
He added that over the past 15 years, Azerbaijan’s real GDP grew 3.6 times, and the share of the private sector in GDP was 83.8 percent in 2017.
“Over the past 15 years, the average annual growth of the non-oil sector of Azerbaijan’s economy was 8.1 percent,” he said. “In 2003-2017, the non-oil industry grew 2.6 times, agriculture grew 1.8 times, construction sector grew 4.9 times, trade grew 4.5 times, tourism increased 20.2 times, transportation grew 3.1 times and communications sector grew 14.5 times.”
Eyyubov added that the share of the non-oil sector in the employment structure in 2018 was more than 73 percent, while in 2003, this figure was 68 percent. During this period, the number of business entities in Azerbaijan increased 4.2 times, the number of legal entities grew 1.9 times, the number of small businesses grew twice, and the number of private entrepreneurs increased five times.
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