Azerbaijan Starts 2026 With Modest Growth at 1.7%

2026-02-12 14:08 By Luisa Carvalho 1 min. read

The economic activity of Azerbaijan rose by 1.7% percent year-on-year in January 2026, reversing a 0.9% decline in the same period last year.

The non-oil and gas sector grew by 2.3%, while the oil and gas sector rose by 0.7%.

Industry remained the largest contributor to GDP at 33.9%, followed by trade and vehicle repair (11.7%) and transport and warehousing (7.8%).

Construction contributed 3.6%, agriculture, forestry and fishing 3.3%, tourist accommodation and catering 2.4%, and information and communication 2.2%, while other sectors represented 23.4%.

Net taxes on products and imports accounted for 11.7% of GDP.

The Central Bank of Azerbaijan recently revised its 2026 GDP growth forecast upward to 2.4%, compared with its October 2025 projection of 2%.

Governor Taleh Kazimov added that growth is expected to reach 2.9% in 2027, with non-oil sector expansion of 4.3%.

Azerbaijan’s GDP increased by 1.4% last year.



News Stream
Azerbaijan Starts 2026 With Modest Growth at 1.7%
The economic activity of Azerbaijan rose by 1.7% percent year-on-year in January 2026, reversing a 0.9% decline in the same period last year. The non-oil and gas sector grew by 2.3%, while the oil and gas sector rose by 0.7%. Industry remained the largest contributor to GDP at 33.9%, followed by trade and vehicle repair (11.7%) and transport and warehousing (7.8%). Construction contributed 3.6%, agriculture, forestry and fishing 3.3%, tourist accommodation and catering 2.4%, and information and communication 2.2%, while other sectors represented 23.4%. Net taxes on products and imports accounted for 11.7% of GDP. The Central Bank of Azerbaijan recently revised its 2026 GDP growth forecast upward to 2.4%, compared with its October 2025 projection of 2%. Governor Taleh Kazimov added that growth is expected to reach 2.9% in 2027, with non-oil sector expansion of 4.3%. Azerbaijan’s GDP increased by 1.4% last year.
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