Baku: In the first quarter of 2025, Azerbaijan’s Gross Domestic Product (GDP) totaled 29 billion 892.9 million manat, marking a 0.3% increase compared to the same period the previous year. The GDP from Azerbaijan’s non-oil and gas sector specifically experienced a 2.5% growth over the same period last year.
According to Azeri-Press News Agency, the industrial production within the non-oil and gas sector rose by 3.5%, despite a 2.7% decrease in overall industry production, which included a 3.6% decline in the oil and gas sector. The non-oil sector’s industrial enterprises and entrepreneurs produced goods worth 15.8 billion manat.
Non-oil exports from Azerbaijan increased by 14.7% during the first quarter of 2025, totaling 771.9 million USD. The export of food products specifically saw a 15.1% rise, reaching 224.7 million USD.
Tax revenue from the non-oil and gas sector saw significant growth, with the State Tax Service under the Ministry of Economy collecting over 3.2 billion manat. This represents a 10.7% increase from the same period in 2024, with 73.7% of total taxes paid coming from the non-oil and gas sector.
Employment in the private sector of the non-oil sector nearly reached 1 million contracts, with an increase of 436,770 units since 2019, totaling 976,692 contracts as of April 1, 2025.
However, investment in the non-oil and gas sector faced a decline, with a 2.4% decrease noted. The first quarter of 2025 saw a total investment of 3.47 billion manat in fixed capital, with a more significant drop of 24.2% in the oil and gas sector investments.