GDP in Azerbaijan

Azerbaijan GDP | Economic News & Forecasts

Azerbaijan - GDP

The economy grew 3.6% in the January-August period compared to the same period of 2020, accelerating from the 2.7% increase recorded in January-July. The non-oil sector continued to lead the upturn, increasing by close to 6.0% in the first eight months of the year. Industrial production growth gained considerable steam, underpinning the recovery, while capital spending slid at a softer rate in year-on-year terms in August. Additionally, nominal income dynamics improved for the fourth consecutive month, translating into a further acceleration in retail sales growth. Meanwhile, Azerbaijani oil prices hit a two-year high in late September, boding well for the country’s important oil sector, while efforts are underway to guarantee the full operation of the Baku-Tbilisi-Kars railway project, which could boost trade and tourism ahead.

Azerbaijan - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)1.1  -3.1  0.2  1.4  2.2  

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Azerbaijan GDP Chart


Azerbaijan GDP
Note: Annual variation of gross domestic product (GDP) in %.

Azerbaijan Facts

Value Change Date
Exchange Rate1.70-0.66 %Jan 01
Stock Market0.10.0 %Jan 07

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