The economy of Azerbaijan advanced by 5.7% year-on-year in the second quarter of 2022, decelerating from a 6.8% rise in the previous three-month period. Slower growth was observed mostly in hotels & restaurants (63.2% vs 120.8% in Q1) and financial intermediation (9.8% vs 23.7%). Meanwhile, output contracted significantly in activities such as other community, social and personal service activities (-29.6% vs 35%); real estate, renting and business activities (-18.4% vs 0.5%) and manufacturing (-10.1% vs 20.8%). source: The State Statistical Committee of the Republic of Azerbaijan
GDP Annual Growth Rate in Azerbaijan averaged 7.77 percent from 2001 until 2022, reaching an all time high of 40.40 percent in the first quarter of 2006 and a record low of -6.70 percent in the third quarter of 2020. This page provides - Azerbaijan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Azerbaijan GDP Annual Growth Rate - values, historical data and charts - was last updated on February of 2023.
GDP Annual Growth Rate in Azerbaijan is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Azerbaijan GDP Annual Growth Rate is projected to trend around 2.70 percent in 2023 and 3.00 percent in 2024, according to our econometric models.