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.

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Azerbaijan GDP Annual Growth Rate



Related Last Previous Unit Reference
GDP Annual Growth Rate 5.70 6.80 percent Jun 2022
Gross Fixed Capital Formation 3662.00 3666.00 AZN Million Sep 2022
GDP from Utilities 38.10 36.10 AZN Million Sep 2022
GDP from Transport 1474.90 1381.80 AZN Million Sep 2022
GDP from Services 678.90 632.30 AZN Million Sep 2022
GDP from Public Administration 188.50 150.40 AZN Million Sep 2022
GDP from Mining 3198.80 2320.70 AZN Million Sep 2022
GDP from Manufacturing 506.80 362.20 AZN Million Sep 2022
GDP from Construction 785.50 458.00 AZN Million Sep 2022
GDP from Agriculture 796.70 553.60 AZN Million Sep 2022
Gross National Product 90923.00 72118.90 AZN Million Dec 2021

Azerbaijan GDP Annual Growth Rate
Azerbaijan's economy is based on oil and gas extraction which accounts for 95 percent of exports and 75 percent of government revenues.
Actual Previous Highest Lowest Dates Unit Frequency
5.70 6.80 40.40 -6.70 2001 - 2022 percent Quarterly
2005=100